Bank of New York Mellon Corp Reduces Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Bank of New York Mellon Corp reduced its position in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,974 shares of the industrial products company's stock after selling 14,551 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Columbus McKinnon worth $5,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMCO. Victory Capital Management Inc. raised its stake in shares of Columbus McKinnon by 1,006.0% during the 3rd quarter. Victory Capital Management Inc. now owns 338,424 shares of the industrial products company's stock worth $12,183,000 after buying an additional 307,824 shares during the last quarter. Quest Partners LLC raised its position in Columbus McKinnon by 21.4% during the third quarter. Quest Partners LLC now owns 22,611 shares of the industrial products company's stock worth $814,000 after acquiring an additional 3,980 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Columbus McKinnon by 16.8% in the third quarter. Segall Bryant & Hamill LLC now owns 373,893 shares of the industrial products company's stock valued at $13,460,000 after purchasing an additional 53,825 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Columbus McKinnon in the third quarter valued at approximately $264,000. Finally, Foundry Partners LLC increased its stake in shares of Columbus McKinnon by 27.2% during the 3rd quarter. Foundry Partners LLC now owns 177,055 shares of the industrial products company's stock worth $6,374,000 after purchasing an additional 37,876 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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Columbus McKinnon Trading Up 1.9 %

NASDAQ CMCO traded up $0.36 during mid-day trading on Thursday, reaching $18.79. 384,346 shares of the stock were exchanged, compared to its average volume of 277,578. The stock has a market capitalization of $537.50 million, a PE ratio of 57.05 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 1-year low of $15.48 and a 1-year high of $45.84. The business's fifty day simple moving average is $26.50 and its 200 day simple moving average is $32.33.

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

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.49%. Columbus McKinnon's dividend payout ratio is presently 84.85%.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Chad R. Abraham bought 20,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kathryn V. Bohl purchased 2,819 shares of Columbus McKinnon stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the transaction, the director now 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. Over the last three months, insiders purchased 27,819 shares of company stock worth $473,064. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on CMCO. DA Davidson reiterated a "neutral" rating and set a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

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.