First Eagle Investment Management LLC Sells 20,700 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

First Eagle Investment Management LLC decreased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,731 shares of the industrial products company's stock after selling 20,700 shares during the quarter. First Eagle Investment Management LLC owned about 0.61% of Columbus McKinnon worth $6,470,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. purchased a new stake in Columbus McKinnon during the fourth quarter valued at $26,416,000. Asset Management One Co. Ltd. raised its stake in Columbus McKinnon by 146.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company's stock valued at $2,840,000 after purchasing an additional 45,073 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Columbus McKinnon by 31.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company's stock valued at $2,104,000 after purchasing an additional 14,018 shares in the last quarter. Victory Capital Management Inc. raised its stake in Columbus McKinnon by 117.8% during the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock valued at $27,455,000 after purchasing an additional 398,826 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Columbus McKinnon during the fourth quarter valued at $14,799,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

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Columbus McKinnon Trading Up 1.6 %

Shares of CMCO traded up $0.30 during midday trading on Thursday, hitting $18.73. The stock had a trading volume of 634,482 shares, compared to its average volume of 278,160. Columbus McKinnon Co. has a 1 year low of $15.48 and a 1 year high of $45.84. The firm has a market cap of $535.92 million, a PE ratio of 56.76 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The stock's 50 day moving average is $26.50 and its 200 day moving average is $32.33.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings results 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 return on equity of 8.64% and a net margin of 0.95%. As a group, analysts forecast that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, Director Chad R. Abraham bought 20,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn V. Bohl bought 2,819 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares in the company, 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 ninety days, insiders have purchased 27,819 shares of company stock worth $473,064. Insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMCO shares. DA Davidson reissued a "neutral" rating and issued a $35.00 target price on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Columbus McKinnon 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.