Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,547,958 shares of the industrial products company's stock after buying an additional 184,615 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 5.40% of Columbus McKinnon worth $57,646,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in CMCO. Millburn Ridgefield Corp purchased a new stake in shares of Columbus McKinnon in the third quarter worth approximately $155,000. Park Avenue Securities LLC acquired a new position in Columbus McKinnon in the fourth quarter worth approximately $239,000. KLP Kapitalforvaltning AS acquired a new position in shares of Columbus McKinnon during the 4th quarter worth $250,000. PNC Financial Services Group Inc. raised its holdings in Columbus McKinnon by 12.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock valued at $265,000 after buying an additional 806 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Columbus McKinnon in the 3rd quarter worth approximately $264,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.
Columbus McKinnon Stock Performance
Columbus McKinnon stock traded down $1.83 on Thursday, hitting $15.27. The company's stock had a trading volume of 187,472 shares, compared to its average volume of 298,599. The firm has a market cap of $436.92 million, a P/E ratio of 46.27 and a beta of 1.31. The company has a fifty day moving average price of $22.88 and a 200-day moving average price of $31.38. Columbus McKinnon Co. has a one year low of $15.11 and a one year high of $45.84. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.64% and a net margin of 0.95%. On average, equities analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.
Columbus McKinnon Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.83%. Columbus McKinnon's dividend payout ratio (DPR) is currently 84.85%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. DA Davidson reaffirmed a "neutral" rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.
View Our Latest Report on Columbus McKinnon
Insider Activity
In related news, Director Christopher J. Stephens bought 5,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the purchase, the director now owns 11,014 shares of the company's stock, valued at $223,253.78. This represents a 83.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Chad R. Abraham purchased 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $16.05 per share, with a total value of $321,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $321,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 27,819 shares of company stock valued at $473,064 over the last 90 days. 1.98% of the stock is owned by company insiders.
Columbus McKinnon Profile
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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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