Columbus McKinnon Co. (NASDAQ:CMCO) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,612,096 shares of the industrial products company’s stock after buying an additional 19,550 shares during the period. Vanguard Group Inc. owned approximately 0.06% of Columbus McKinnon worth $60,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMCO. Park Avenue Securities LLC bought a new stake in shares of Columbus McKinnon in the fourth quarter worth $239,000. KLP Kapitalforvaltning AS bought a new stake in shares of Columbus McKinnon in the 4th quarter worth about $250,000. PNC Financial Services Group Inc. increased its position in shares of Columbus McKinnon by 12.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 806 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Columbus McKinnon by 18.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,499 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 1,632 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of Columbus McKinnon during the fourth quarter worth about $425,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CMCO. DA Davidson restated a “neutral” rating and set a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Insider Activity

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 5,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the acquisition, the director now owns 11,014 shares in the company, valued at approximately $223,253.78. This represents a 83.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chad R. Abraham acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $16.05 per share, with a total value of $321,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 27,819 shares of company stock valued at $473,064. 1.98% of the stock is currently owned by company insiders.

Columbus McKinnon Trading Up 2.2 %

NASDAQ CMCO opened at $12.96 on Friday. The firm has a market capitalization of $370.82 million, a PE ratio of 39.27 and a beta of 1.26. Columbus McKinnon Co. has a one year low of $11.78 and a one year high of $45.84. The company has a 50-day simple moving average of $18.77 and a 200-day simple moving average of $30.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. On average, equities analysts forecast that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, May 2nd. Columbus McKinnon’s payout ratio is 84.85%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.