Access Investment Management LLC increased its stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 112.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,900 shares of the industrial products company's stock after purchasing an additional 45,920 shares during the period. Access Investment Management LLC owned approximately 0.30% of Columbus McKinnon worth $3,236,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC grew its stake in shares of Columbus McKinnon by 8.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company's stock worth $36,135,000 after acquiring an additional 74,831 shares in the last quarter. Systematic Financial Management LP grew its position in Columbus McKinnon by 12.0% in the third quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company's stock valued at $28,162,000 after purchasing an additional 83,610 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Columbus McKinnon in the 4th quarter valued at $26,416,000. Geode Capital Management LLC increased its stake in Columbus McKinnon by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company's stock valued at $24,767,000 after buying an additional 10,581 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Columbus McKinnon by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company's stock worth $14,067,000 after buying an additional 18,802 shares in the last quarter. Institutional investors own 95.96% of the company's stock.
Columbus McKinnon Stock Performance
CMCO stock traded down $0.52 during trading hours on Wednesday, reaching $17.78. The stock had a trading volume of 1,149,362 shares, compared to its average volume of 573,445. The stock has a 50-day simple moving average of $32.71 and a 200 day simple moving average of $34.08. Columbus McKinnon Co. has a fifty-two week low of $17.41 and a fifty-two week high of $45.84. The stock has a market capitalization of $508.74 million, a PE ratio of 53.88 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (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%. Analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.
Columbus McKinnon Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, February 7th. Columbus McKinnon's payout ratio is presently 84.85%.
Analyst Upgrades and Downgrades
CMCO has been the topic of a number of recent research reports. DA Davidson reaffirmed a "neutral" rating and issued a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.
Read Our Latest Analysis on Columbus McKinnon
Insider Activity at Columbus McKinnon
In related news, Director Christopher J. Stephens acquired 5,000 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the acquisition, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is owned by company insiders.
About Columbus McKinnon
(
Free Report)
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.
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