Invesco Ltd. Buys 307,355 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Invesco Ltd. increased its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 207.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 455,210 shares of the industrial products company’s stock after acquiring an additional 307,355 shares during the period. Invesco Ltd. owned about 1.59% of Columbus McKinnon worth $16,952,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC bought a new stake in Columbus McKinnon in the fourth quarter valued at approximately $239,000. KLP Kapitalforvaltning AS bought a new stake in Columbus McKinnon during the 4th quarter valued at $250,000. PNC Financial Services Group Inc. boosted its position in Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock valued at $265,000 after buying an additional 806 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Columbus McKinnon during the 4th quarter valued at $313,000. Finally, Central Pacific Bank Trust Division grew its holdings in Columbus McKinnon by 18.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,499 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 1,632 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Columbus McKinnon news, Director Chad R. Abraham purchased 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn V. Bohl acquired 2,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now directly owns 14,812 shares of the company’s stock, valued at $266,467.88. This represents a 23.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 27,819 shares of company stock worth $473,064. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Stock Up 0.2 %

Shares of Columbus McKinnon stock opened at $13.13 on Monday. The company’s fifty day simple moving average is $16.90 and its two-hundred day simple moving average is $29.41. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $45.84. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $375.69 million, a P/E ratio of 39.79 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 (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%. Research analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Friday, May 2nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.28 annualized dividend and a yield of 2.13%. Columbus McKinnon’s payout ratio is 84.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CMCO. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. DA Davidson reaffirmed a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

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.