Teacher Retirement System of Texas Invests $1.67 Million in Columbus McKinnon Co. (NASDAQ:CMCO)

Teacher Retirement System of Texas bought a new position in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 44,956 shares of the industrial products company's stock, valued at approximately $1,674,000. Teacher Retirement System of Texas owned approximately 0.16% of Columbus McKinnon at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lord Abbett & CO. LLC grew its holdings in shares of Columbus McKinnon by 8.1% during the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company's stock worth $36,135,000 after buying an additional 74,831 shares in the last quarter. Systematic Financial Management LP boosted its position in Columbus McKinnon by 12.0% during the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company's stock worth $28,162,000 after acquiring an additional 83,610 shares during the last quarter. Victory Capital Management Inc. boosted its position in Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock worth $27,455,000 after acquiring an additional 398,826 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Columbus McKinnon during the 4th quarter worth approximately $26,416,000. Finally, Geode Capital Management LLC raised its holdings in shares of Columbus McKinnon by 1.6% in the third quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company's stock valued at $24,767,000 after purchasing an additional 10,581 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

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Analyst Upgrades and Downgrades

CMCO has been the subject of a number of recent research reports. DA Davidson restated a "neutral" rating and set a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.

Columbus McKinnon Stock Performance

Shares of CMCO stock traded down $0.11 during midday trading on Monday, hitting $16.93. 618,422 shares of the company were exchanged, compared to its average volume of 296,817. The firm has a market capitalization of $484.42 million, a P/E ratio of 51.30 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. Columbus McKinnon Co. has a 52 week low of $15.48 and a 52 week high of $45.84. The firm's 50 day moving average price is $23.70 and its two-hundred day moving average price is $31.58.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. As a group, equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon's dividend payout ratio is currently 84.85%.

Insider Activity

In other news, Director Christopher J. Stephens purchased 5,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $20.27 per share, with a total value of $101,350.00. Following the acquisition, the director now owns 11,014 shares in the company, valued at approximately $223,253.78. The trade was a 83.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathryn V. Bohl purchased 2,819 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now owns 14,812 shares in the company, valued at approximately $266,467.88. The trade was a 23.51 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 27,819 shares of company stock valued at $473,064. 1.98% of the stock is owned by company insiders.

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.