Vanguard Group Inc. Grows Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Vanguard Group Inc. grew its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,612,096 shares of the industrial products company’s stock after acquiring an additional 19,550 shares during the quarter. Vanguard Group Inc. owned about 5.62% of Columbus McKinnon worth $60,034,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC acquired a new stake in shares of Columbus McKinnon during the 4th quarter worth about $239,000. KLP Kapitalforvaltning AS acquired a new stake in Columbus McKinnon during the fourth quarter worth approximately $250,000. PNC Financial Services Group Inc. grew its stake in 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 acquiring an additional 806 shares during the period. Central Pacific Bank Trust Division lifted its stake in shares of Columbus McKinnon by 18.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,499 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 1,632 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth $425,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Activity

In related news, Director Chad R. Abraham bought 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $321,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn V. Bohl purchased 2,819 shares of Columbus McKinnon stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $17.99 per share, for a total transaction 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 represents a 23.51 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 27,819 shares of company stock valued at $473,064. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

CMCO has been the subject of several analyst reports. DA Davidson reiterated a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a research note 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 2.2 %

CMCO stock opened at $12.96 on Friday. Columbus McKinnon Co. has a 52 week low of $11.78 and a 52 week high of $45.84. The company has a market cap of $370.82 million, a price-to-earnings ratio of 39.27 and a beta of 1.26. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $18.77 and a 200-day simple moving average of $30.21.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 EPS 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%. On average, equities research analysts expect that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon’s payout ratio is currently 84.85%.

Columbus McKinnon 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.