JPMorgan Chase & Co. Raises Position in Columbus McKinnon Co. (NASDAQ:CMCO)

JPMorgan Chase & Co. lifted its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 183.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,512 shares of the industrial products company's stock after purchasing an additional 49,498 shares during the period. JPMorgan Chase & Co. owned 0.27% of Columbus McKinnon worth $2,849,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC bought a new position in Columbus McKinnon in the 4th quarter worth approximately $239,000. KLP Kapitalforvaltning AS bought a new stake in shares of Columbus McKinnon during the fourth quarter valued at about $250,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 worth $265,000 after buying an additional 806 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Columbus McKinnon by 18.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 10,499 shares of the industrial products company's stock valued at $391,000 after acquiring an additional 1,632 shares during the period. Finally, LPL Financial LLC purchased a new position in Columbus McKinnon during the fourth quarter valued at approximately $425,000. Institutional investors own 95.96% of the company's stock.

Insiders Place Their Bets

In other news, Director Kathryn V. Bohl purchased 2,819 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were purchased 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 directly owns 14,812 shares in the company, valued at $266,467.88. This represents a 23.51 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Chad R. Abraham bought 20,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $321,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 27,819 shares of company stock valued at $473,064. 1.98% of the stock is currently owned by corporate insiders.

Columbus McKinnon Stock Up 4.4 %

Shares of NASDAQ CMCO opened at $13.55 on Wednesday. The company has a market cap of $387.71 million, a price-to-earnings ratio of 41.06 and a beta of 1.26. 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's fifty day moving average is $16.62 and its 200 day moving average is $29.14. Columbus McKinnon Co. has a 52 week low of $11.78 and a 52 week high of $45.84.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon's payout ratio is 84.85%.

Analysts Set New Price Targets

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

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.

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