Cornercap Investment Counsel Inc. Decreases Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Cornercap Investment Counsel Inc. reduced its holdings in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 50.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,464 shares of the industrial products company's stock after selling 13,535 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Columbus McKinnon were worth $485,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CMCO. Mascoma Wealth Management LLC bought a new position in shares of Columbus McKinnon during the third quarter worth about $25,000. Quarry LP bought a new stake in Columbus McKinnon during the second quarter worth about $39,000. Innealta Capital LLC bought a new position in Columbus McKinnon in the second quarter valued at approximately $41,000. CWM LLC raised its holdings in shares of Columbus McKinnon by 679.8% during the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock worth $63,000 after buying an additional 1,584 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Columbus McKinnon in the second quarter worth about $73,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Buying and Selling

In other news, Director Christopher J. Stephens acquired 1,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $37.34 per share, with a total value of $37,340.00. Following the completion of the purchase, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David J. Wilson bought 31,300 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the purchase, the chief executive officer now directly owns 31,300 shares in the company, valued at approximately $1,002,226. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Columbus McKinnon Stock Down 0.8 %

Shares of CMCO stock traded down $0.29 on Friday, hitting $37.14. The stock had a trading volume of 292,470 shares, compared to its average volume of 290,079. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 70.08 and a beta of 1.19. 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 business has a 50 day moving average of $33.84 and a 200 day moving average of $35.84. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84.

Columbus McKinnon Announces Dividend

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

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.