Bank of America Corp DE Increases Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Bank of America Corp DE grew its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 611,890 shares of the industrial products company’s stock after purchasing an additional 7,201 shares during the period. Bank of America Corp DE’s holdings in Columbus McKinnon were worth $22,787,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CMCO. Sterling Capital Management LLC grew its position in shares of Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after buying an additional 810 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Columbus McKinnon in the fourth quarter valued at $239,000. Freestone Grove Partners LP acquired a new position in Columbus McKinnon in the fourth quarter valued at $242,000. KLP Kapitalforvaltning AS purchased a new position in shares of Columbus McKinnon during the fourth quarter worth about $250,000. Finally, MGO One Seven LLC acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth about $256,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Transactions at Columbus McKinnon

In related news, Director Chad R. Abraham acquired 20,000 shares of Columbus McKinnon stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $16.05 per share, with a total value of $321,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn V. Bohl acquired 2,819 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost of $17.99 per share, with a total value of $50,713.81. Following the completion of the transaction, the director now directly owns 14,812 shares in the company, valued at $266,467.88. This trade represents a 23.51% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Columbus McKinnon Stock Up 1.5%

Shares of NASDAQ:CMCO opened at $17.83 on Monday. Columbus McKinnon Co. has a 1-year low of $11.78 and a 1-year high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The stock has a market cap of $510.17 million, a P/E ratio of 54.03 and a beta of 1.33. The firm has a fifty day moving average price of $15.78 and a 200 day moving average price of $26.87.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Friday, May 2nd were paid a dividend of $0.07 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.57%. Columbus McKinnon’s dividend payout ratio (DPR) is 84.85%.

Analyst Ratings Changes

Several analysts have recently weighed in on CMCO shares. DA Davidson reissued a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

About Columbus McKinnon

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.