Bridge City Capital LLC raised its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,218 shares of the industrial products company's stock after purchasing an additional 14,742 shares during the quarter. Bridge City Capital LLC owned 0.34% of Columbus McKinnon worth $3,583,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Millburn Ridgefield Corp acquired a new stake in shares of Columbus McKinnon during the 3rd quarter worth approximately $155,000. Park Avenue Securities LLC acquired a new stake in Columbus McKinnon during the fourth quarter valued at $239,000. KLP Kapitalforvaltning AS purchased a new position in Columbus McKinnon in the fourth quarter valued at $250,000. Intech Investment Management LLC acquired a new position in shares of Columbus McKinnon in the third quarter worth about $264,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock worth $265,000 after acquiring an additional 806 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on CMCO. StockNews.com lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. DA Davidson restated a "neutral" rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research report on Tuesday, February 18th.
Check Out Our Latest Analysis on Columbus McKinnon
Columbus McKinnon Price Performance
CMCO traded down $0.27 during midday trading on Thursday, hitting $17.86. 461,378 shares of the company traded hands, compared to its average volume of 285,191. The business has a 50 day simple moving average of $24.47 and a two-hundred day simple moving average of $31.75. Columbus McKinnon Co. has a 52-week low of $15.48 and a 52-week high of $45.84. The company has a market capitalization of $511.03 million, a price-to-earnings ratio of 54.12 and a beta of 1.31. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly 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 return on equity of 8.64% and a net margin of 0.95%. On average, equities analysts forecast that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.
Columbus McKinnon Announces Dividend
The firm 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 $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon's dividend payout ratio is currently 84.85%.
Insider Transactions at Columbus McKinnon
In related news, Director Kathryn V. Bohl acquired 2,819 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the purchase, the director now owns 14,812 shares of the company's stock, valued at approximately $266,467.88. This represents a 23.51 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher J. Stephens bought 5,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the acquisition, the director now owns 11,014 shares in the company, valued at $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 27,819 shares of company stock valued at $473,064. Corporate insiders own 1.98% of the company's stock.
Columbus McKinnon Company 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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