Raymond James Financial Inc. Makes New Investment in Columbus McKinnon Co. (NASDAQ:CMCO)

Raymond James Financial Inc. acquired a new stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 397,392 shares of the industrial products company's stock, valued at approximately $14,799,000. Raymond James Financial Inc. owned 1.39% of Columbus McKinnon at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Millburn Ridgefield Corp bought a new position in Columbus McKinnon in the third quarter worth $155,000. Park Avenue Securities LLC bought a new position in Columbus McKinnon in the fourth quarter worth $239,000. Intech Investment Management LLC bought a new position in Columbus McKinnon in the third quarter worth $264,000. Paloma Partners Management Co bought a new position in Columbus McKinnon in the third quarter worth $323,000. Finally, Central Pacific Bank Trust Division lifted its position in 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 worth $391,000 after purchasing an additional 1,632 shares during the period. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO traded down $0.27 during midday trading on Friday, reaching $18.46. The company's stock had a trading volume of 774,008 shares, compared to its average volume of 281,179. The business's fifty day simple moving average is $25.85 and its 200-day simple moving average is $32.12. The company has a market capitalization of $528.20 million, a P/E ratio of 55.94 and a beta of 1.31. Columbus McKinnon Co. has a fifty-two week low of $15.48 and a fifty-two week high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10.

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Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its 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 return on equity of 8.64% and a net margin of 0.95%. As a group, equities research analysts expect that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Friday, February 7th. Columbus McKinnon's dividend payout ratio (DPR) is 84.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMCO. StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson reiterated a "neutral" rating and set a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

Insiders Place Their Bets

In related news, Director Christopher J. Stephens bought 5,000 shares of Columbus McKinnon stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $20.27 per share, with a total value of $101,350.00. Following the acquisition, the director now owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kathryn V. Bohl acquired 2,819 shares of Columbus McKinnon stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the purchase, the director now directly owns 14,812 shares of the company's stock, valued at $266,467.88. This represents a 23.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 27,819 shares of company stock valued at $473,064 in the last 90 days. 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.