Insider Buying: Columbus McKinnon Co. (NASDAQ:CMCO) Director Acquires 1,000 Shares of Stock

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) Director Christopher J. Stephens purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $37.34 per share, with a total value of $37,340.00. Following the completion of the purchase, the director now directly owns 6,014 shares in the company, valued at $224,562.76. The trade was a 19.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Columbus McKinnon Stock Down 0.8 %

Shares of CMCO stock traded down $0.29 during mid-day trading on Friday, hitting $37.14. The stock had a trading volume of 292,470 shares, compared to its average volume of 184,366. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The firm's 50-day moving average is $33.84 and its two-hundred day moving average is $35.88. The firm has a market capitalization of $1.07 billion, a P/E ratio of 70.08 and a beta of 1.19.

Columbus McKinnon Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CMCO. Boston Partners bought a new position in shares of Columbus McKinnon during the first quarter valued at approximately $847,000. Hillsdale Investment Management Inc. bought a new stake in Columbus McKinnon during the 1st quarter valued at $3,791,000. Vanguard Group Inc. boosted its position in Columbus McKinnon by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company's stock valued at $69,505,000 after acquiring an additional 16,174 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Columbus McKinnon in the 2nd quarter worth $35,540,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company's stock worth $3,726,000 after purchasing an additional 77,085 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd.

Columbus McKinnon Company 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.