Front Street Capital Management Inc. Invests $2.04 Million in Columbus McKinnon Co. (NASDAQ:CMCO)

Front Street Capital Management Inc. acquired a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 54,788 shares of the industrial products company's stock, valued at approximately $2,040,000. Front Street Capital Management Inc. owned about 0.19% of Columbus McKinnon as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock worth $34,000 after purchasing an additional 810 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Columbus McKinnon in the fourth quarter worth $239,000. KLP Kapitalforvaltning AS purchased a new stake in Columbus McKinnon during the fourth quarter valued at $250,000. PNC Financial Services Group Inc. lifted its holdings in Columbus McKinnon by 12.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock valued at $265,000 after acquiring an additional 806 shares during the period. Finally, LSV Asset Management purchased a new position in Columbus McKinnon in the fourth quarter worth about $276,000. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMCO has been the topic of several recent research reports. StockNews.com downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson restated a "neutral" rating and set a $35.00 price objective on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Insider Activity at Columbus McKinnon

In other news, Director Chad R. Abraham bought 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now owns 20,000 shares of the company's stock, valued at $321,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher J. Stephens purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the acquisition, the director now directly owns 11,014 shares in the company, valued at $223,253.78. The trade was a 83.14 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 27,819 shares of company stock valued at $473,064. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Price Performance

CMCO stock traded up $0.34 during midday trading on Wednesday, hitting $13.89. The company's stock had a trading volume of 129,393 shares, compared to its average volume of 326,050. Columbus McKinnon Co. has a 12 month low of $11.78 and a 12 month high of $45.84. The company has a 50 day moving average of $16.62 and a two-hundred day moving average of $29.14. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $397.43 million, a price-to-earnings ratio of 42.09 and a beta of 1.26.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. On average, analysts expect that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.07 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.02%. Columbus McKinnon's dividend payout ratio is currently 84.85%.

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.