Moving things around a factory, plant, or mill may not be the sexiest business out there, but it’s pretty essential and as companies continue to turn to automation, material handling is going to become increasingly important. On top of that, Columbus McKinnon (CMCO) has shown that it can execute on margin-improvement initiatives, portfolio restructuring, and product R&D, as well as value-added R&D.
That’s the elevator pitch for Columbus McKinnon, and these shares have done well since I last identified them as an underrated industrial back in August of 2020. While the 50% or so move in the stock since then (almost 20% better than the broader industrial sector) as soaked up a lot of the undervaluation I saw, I do still see better long-term return potential here than for the average industrial, and I think Columbus McKinnon is on a credible path to above-average underlying performance.
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Columbus McKinnon Doing The Heavy Lifting To Build Long-Term Shareholder Value
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