Lord Abbett & CO. LLC Buys 74,831 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Lord Abbett & CO. LLC boosted its holdings in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,003,751 shares of the industrial products company's stock after buying an additional 74,831 shares during the period. Lord Abbett & CO. LLC owned approximately 3.50% of Columbus McKinnon worth $36,135,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWM LLC boosted its holdings in Columbus McKinnon by 679.8% in the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock valued at $63,000 after purchasing an additional 1,584 shares during the period. Bank of New York Mellon Corp grew its position in Columbus McKinnon by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 193,595 shares of the industrial products company's stock worth $6,687,000 after buying an additional 10,669 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 valued at $33,305,000 after acquiring an additional 3,200 shares during the period. Legato Capital Management LLC bought a new stake in shares of Columbus McKinnon in the 2nd quarter worth approximately $403,000. Finally, Innealta Capital LLC bought a new stake in shares of Columbus McKinnon in the 2nd quarter worth approximately $41,000. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of CMCO traded down $0.15 on Friday, reaching $38.90. 178,878 shares of the stock traded hands, compared to its average volume of 187,883. The stock's 50-day moving average price is $36.22 and its 200-day moving average price is $35.09. 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 firm has a market cap of $1.12 billion, a price-to-earnings ratio of 73.40 and a beta of 1.23. 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 declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, November 8th. Columbus McKinnon's dividend payout ratio (DPR) is presently 52.83%.

Insider Activity

In related news, CEO David J. Wilson purchased 31,300 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the purchase, the chief executive officer now directly owns 31,300 shares in the company, valued at $1,002,226. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher J. Stephens acquired 1,000 shares of the company's stock in a transaction on Thursday, November 14th. The shares were bought at an average price 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 of the company's stock, valued at approximately $224,562.76. This represents a 19.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company's stock.

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.