Access Investment Management LLC Invests $1.48 Million in Columbus McKinnon Co. (NASDAQ:CMCO)

Access Investment Management LLC acquired a new stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,980 shares of the industrial products company's stock, valued at approximately $1,475,000. Access Investment Management LLC owned about 0.14% of Columbus McKinnon 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. Quarry LP bought a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $39,000. Innealta Capital LLC bought a new stake in shares of Columbus McKinnon during the second quarter worth $41,000. CWM LLC lifted its position in Columbus McKinnon by 679.8% in 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 acquired a new position in Columbus McKinnon in the 2nd quarter worth $73,000. Finally, Point72 DIFC Ltd bought a new position in Columbus McKinnon during the 2nd quarter worth about $106,000. Institutional investors own 95.96% of the company's stock.

Insider Buying and Selling

In related news, CEO David J. Wilson acquired 31,300 shares of the business's stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares in the company, valued at $1,002,226. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently owned by corporate insiders.

Columbus McKinnon Stock Up 2.2 %

CMCO traded up $0.80 during trading hours on Monday, hitting $37.10. 190,588 shares of the company's stock were exchanged, compared to its average volume of 181,518. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. Columbus McKinnon Co. has a 1-year low of $29.26 and a 1-year high of $45.84. The stock's 50-day moving average is $33.35 and its two-hundred day moving average is $35.99. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 69.36 and a beta of 1.19.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon's payout ratio is 52.83%.

Analyst Ratings Changes

Separately, StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research report 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.