Allspring Global Investments Holdings LLC Has $33.41 Million Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 904,387 shares of the industrial products company's stock after selling 16,742 shares during the quarter. Allspring Global Investments Holdings LLC owned about 3.15% of Columbus McKinnon worth $33,408,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CMCO. Mascoma Wealth Management LLC acquired a new position in Columbus McKinnon during the third quarter worth $25,000. Palouse Capital Management Inc. acquired a new position in Columbus McKinnon during the third quarter worth $144,000. Millburn Ridgefield Corp acquired a new position in Columbus McKinnon during the third quarter worth $155,000. Park Avenue Securities LLC acquired a new position in Columbus McKinnon during the fourth quarter worth $239,000. Finally, SG Americas Securities LLC acquired a new position in Columbus McKinnon during the third quarter worth $244,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the transaction, the director now directly owns 11,014 shares of the company's stock, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Stock Performance

CMCO stock traded down $0.24 during mid-day trading on Tuesday, reaching $20.25. 286,898 shares of the stock traded hands, compared to its average volume of 432,552. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average of $35.08 and a two-hundred day moving average of $34.67. Columbus McKinnon Co. has a 52 week low of $19.55 and a 52 week high of $45.84. The firm has a market capitalization of $580.83 million, a PE ratio of 38.42 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. As a group, equities analysts predict that Columbus McKinnon Co. will post 2.98 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon's payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMCO. StockNews.com cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. DA Davidson restated a "neutral" rating and set a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday.

Columbus McKinnon 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.