State of New Jersey Common Pension Fund D Increases Position in Columbus McKinnon Co. (NASDAQ:CMCO)

State of New Jersey Common Pension Fund D boosted its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 13.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 72,202 shares of the industrial products company’s stock after acquiring an additional 8,302 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Columbus McKinnon were worth $2,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCO. Carmel Capital Partners LLC purchased a new stake in Columbus McKinnon in the third quarter worth about $27,000. Quantbot Technologies LP purchased a new stake in Columbus McKinnon in the third quarter worth about $61,000. New York State Teachers Retirement System purchased a new stake in Columbus McKinnon in the third quarter worth about $65,000. Buck Wealth Strategies LLC purchased a new stake in Columbus McKinnon in the third quarter worth about $83,000. Finally, Park Avenue Securities LLC purchased a new stake in Columbus McKinnon in the third quarter worth about $210,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

CMCO has been the topic of a number of recent research reports. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. StockNews.com cut shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, DA Davidson increased their price target on shares of Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 5th.

Insider Activity

In other news, SVP Lara Mario Y. Ramos sold 9,071 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total transaction of $349,233.50. Following the sale, the senior vice president now directly owns 12,266 shares in the company, valued at approximately $472,241. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Lara Mario Y. Ramos sold 9,071 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total transaction of $349,233.50. Following the completion of the transaction, the senior vice president now directly owns 12,266 shares of the company’s stock, valued at $472,241. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory P. Rustowicz sold 9,461 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at $3,274,257.28. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Columbus McKinnon Trading Up 0.6 %

NASDAQ:CMCO opened at $42.18 on Tuesday. The company’s 50 day moving average price is $42.07 and its 200-day moving average price is $38.58. 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 $1.21 billion, a price-to-earnings ratio of 24.96 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. The company had revenue of $254.14 million for the quarter, compared to analysts’ expectations of $254.00 million. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities research analysts forecast that Columbus McKinnon Co. will post 2.95 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. Columbus McKinnon’s payout ratio is 16.57%.

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.