Franklin Resources Inc. trimmed its stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 73.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 489,516 shares of the industrial products company's stock after selling 1,379,672 shares during the period. Franklin Resources Inc. owned approximately 1.71% of Columbus McKinnon worth $17,202,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of CMCO. Dimensional Fund Advisors LP raised its holdings in shares of Columbus McKinnon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company's stock worth $65,315,000 after buying an additional 7,465 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Columbus McKinnon in the second quarter worth $35,540,000. Allspring Global Investments Holdings LLC lifted its position in shares of Columbus McKinnon by 0.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company's stock worth $33,305,000 after purchasing an additional 3,200 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Columbus McKinnon by 12.0% during the third quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company's stock valued at $28,162,000 after purchasing an additional 83,610 shares during the period. Finally, Geode Capital Management LLC increased its stake in Columbus McKinnon by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company's stock worth $24,767,000 after buying an additional 10,581 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.
Columbus McKinnon Stock Down 0.2 %
NASDAQ:CMCO opened at $36.56 on Friday. The firm has a market cap of $1.05 billion, a PE ratio of 68.98 and a beta of 1.23. Columbus McKinnon Co. has a 1-year low of $29.26 and a 1-year 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 company has a 50-day moving average of $36.46 and a 200 day moving average of $35.11.
Columbus McKinnon Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, November 8th. This represents a $0.28 annualized dividend and a yield of 0.77%. Columbus McKinnon's dividend payout ratio (DPR) is 52.83%.
Insider Activity at Columbus McKinnon
In related news, Director Christopher J. Stephens acquired 1,000 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of $37.34 per share, with a total value of $37,340.00. Following the completion of the acquisition, the director now directly owns 6,014 shares of the company's stock, valued at $224,562.76. This represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Wilson purchased 31,300 shares of the company's stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the purchase, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.
About Columbus McKinnon
(
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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