Creative Planning Invests $369,000 in Columbus McKinnon Co. (NASDAQ:CMCO)

Creative Planning bought a new position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,249 shares of the industrial products company’s stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Columbus McKinnon during the second quarter worth about $39,000. Innealta Capital LLC purchased a new stake in Columbus McKinnon during the 2nd quarter valued at about $41,000. CWM LLC grew its stake in Columbus McKinnon by 679.8% during the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 1,584 shares in the last quarter. nVerses Capital LLC purchased a new stake in Columbus McKinnon during the 2nd quarter valued at about $73,000. Finally, Point72 DIFC Ltd purchased a new stake in Columbus McKinnon during the 2nd quarter valued at about $106,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Up 0.8 %

Shares of NASDAQ CMCO opened at $36.57 on Friday. The company has a 50-day moving average of $33.31 and a 200 day moving average of $36.10. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.05 billion, a PE ratio of 69.00 and a beta of 1.19.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be paid a $0.07 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.77%. Columbus McKinnon’s dividend payout ratio (DPR) is 52.83%.

Insider Activity

In other news, CEO David J. Wilson purchased 31,300 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the purchase, the chief executive officer now directly owns 31,300 shares in the company, valued at approximately $1,002,226. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

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.