Summit Global Investments Invests $438,000 in Columbus McKinnon Co. (NASDAQ:CMCO)

Summit Global Investments acquired a new stake in Columbus McKinnon Co. (NASDAQ:CMCO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,224 shares of the industrial products company’s stock, valued at approximately $438,000.

A number of other institutional investors also recently bought and sold shares of CMCO. Carmel Capital Partners LLC purchased a new position in shares of Columbus McKinnon in the third quarter worth $27,000. Quantbot Technologies LP purchased a new position in Columbus McKinnon in the 3rd quarter worth $61,000. New York State Teachers Retirement System acquired a new stake in Columbus McKinnon during the 3rd quarter worth about $65,000. Buck Wealth Strategies LLC purchased a new stake in Columbus McKinnon during the 3rd quarter valued at about $83,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Columbus McKinnon in the third quarter valued at about $210,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $41.44, for a total transaction of $392,063.84. Following the completion of the transaction, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at approximately $3,274,257.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.47% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $42.56 on Monday. Columbus McKinnon Co. has a 52-week low of $30.29 and a 52-week high of $44.97. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.22 billion, a PE ratio of 25.18 and a beta of 1.27. The business has a 50-day simple moving average of $42.08 and a 200-day simple moving average of $38.80.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, May 2nd. Columbus McKinnon’s payout ratio is presently 16.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. DA Davidson upped their target price on Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 5th. StockNews.com downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.