Isthmus Partners LLC Lowers Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Isthmus Partners LLC trimmed its holdings in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 18.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 68,868 shares of the industrial products company's stock after selling 15,825 shares during the quarter. Isthmus Partners LLC owned 0.24% of Columbus McKinnon worth $2,479,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Boston Partners purchased a new stake in Columbus McKinnon during the first quarter valued at about $847,000. Vanguard Group Inc. boosted its holdings in Columbus McKinnon by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company's stock valued at $69,505,000 after acquiring an additional 16,174 shares during the period. State of New Jersey Common Pension Fund D grew its position in Columbus McKinnon by 31.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company's stock worth $2,104,000 after acquiring an additional 14,018 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Columbus McKinnon in the 2nd quarter worth approximately $35,540,000. Finally, Renaissance Technologies LLC lifted its position in Columbus McKinnon by 250.3% in the second quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company's stock valued at $3,726,000 after purchasing an additional 77,085 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Columbus McKinnon Trading Up 0.5 %

NASDAQ:CMCO traded up $0.19 during mid-day trading on Friday, reaching $39.29. 160,238 shares of the company's stock traded hands, compared to its average volume of 184,815. The company has a 50 day moving average price of $35.09 and a 200-day moving average price of $35.60. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 73.77 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. 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 announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.71%. Columbus McKinnon's dividend payout ratio is presently 52.83%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Christopher J. Stephens purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, with a total value of $37,340.00. Following the completion of the purchase, the director now directly owns 6,014 shares in the company, valued at approximately $224,562.76. This represents a 19.94 % 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, CEO David J. Wilson acquired 31,300 shares of the business's stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the transaction, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

About Columbus McKinnon

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.