JPMorgan Chase & Co. Purchases 49,498 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

JPMorgan Chase & Co. boosted its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 183.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,512 shares of the industrial products company’s stock after buying an additional 49,498 shares during the period. JPMorgan Chase & Co.’s holdings in Columbus McKinnon were worth $2,849,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC raised its position in Columbus McKinnon by 95.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 356,232 shares during the period. Vanguard Group Inc. raised its holdings in shares of Columbus McKinnon by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after purchasing an additional 19,550 shares in the last quarter. Bridge City Capital LLC lifted its holdings in Columbus McKinnon by 18.1% during the fourth quarter. Bridge City Capital LLC now owns 96,218 shares of the industrial products company’s stock worth $3,583,000 after buying an additional 14,742 shares during the period. LPL Financial LLC purchased a new stake in shares of Columbus McKinnon during the 4th quarter worth $425,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Columbus McKinnon in the 4th quarter valued at about $250,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCO has been the subject of a number of recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Columbus McKinnon Trading Up 4.4 %

Shares of Columbus McKinnon stock opened at $13.55 on Wednesday. The firm has a 50-day simple moving average of $16.62 and a two-hundred day simple moving average of $29.14. 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 Co. has a fifty-two week low of $11.78 and a fifty-two week high of $45.84. The company has a market cap of $387.71 million, a P/E ratio of 41.06 and a beta of 1.26.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. As a group, equities analysts predict that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon’s dividend payout ratio is presently 84.85%.

Insider Buying and Selling at Columbus McKinnon

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

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.