Nuveen Asset Management LLC Has $12.42 Million Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Nuveen Asset Management LLC trimmed its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 25.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,528 shares of the industrial products company’s stock after selling 111,687 shares during the quarter. Nuveen Asset Management LLC owned 1.16% of Columbus McKinnon worth $12,421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Columbus McKinnon by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after acquiring an additional 19,550 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Columbus McKinnon by 13.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock worth $57,646,000 after purchasing an additional 184,615 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after purchasing an additional 398,826 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Columbus McKinnon by 95.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 356,232 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Columbus McKinnon during the fourth quarter worth approximately $26,416,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMCO has been the subject of several recent research reports. Wall Street Zen cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. DA Davidson reiterated a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Columbus McKinnon Trading Down 0.7%

Shares of Columbus McKinnon stock opened at $16.42 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $45.45. The company has a market capitalization of $469.83 million, a price-to-earnings ratio of 49.76 and a beta of 1.33. The firm’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $26.14.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Friday, May 2nd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.71%. Columbus McKinnon’s dividend payout ratio is 84.85%.

Insider Buying and Selling

In other Columbus McKinnon news, Director Chad R. Abraham acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $321,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn V. Bohl acquired 2,819 shares of Columbus McKinnon stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of 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. 1.98% of the stock is currently owned by company insiders.

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.