Synovus Financial Corp Acquires Shares of 21,959 Columbus McKinnon Co. (NASDAQ:CMCO)

Synovus Financial Corp acquired a new stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,959 shares of the industrial products company's stock, valued at approximately $818,000. Synovus Financial Corp owned 0.08% of Columbus McKinnon as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of CMCO. Sterling Capital Management LLC increased its holdings 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 buying an additional 810 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Columbus McKinnon in the fourth quarter worth $239,000. KLP Kapitalforvaltning AS purchased a new position in shares of Columbus McKinnon during the fourth quarter worth $250,000. PNC Financial Services Group Inc. lifted its position in Columbus McKinnon by 12.7% during 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 purchasing an additional 806 shares during the period. Finally, LSV Asset Management purchased a new stake in Columbus McKinnon in the fourth quarter valued at $276,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Columbus McKinnon

In related news, Director Kathryn V. Bohl bought 2,819 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $17.99 per share, with a total value 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 approximately $266,467.88. This trade represents a 23.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Chad R. Abraham purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $321,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 27,819 shares of company stock valued at $473,064 in the last three months. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. DA Davidson reiterated a "neutral" rating and set a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Columbus McKinnon Stock Performance

CMCO stock traded up $0.57 during midday trading on Tuesday, hitting $13.55. 388,066 shares of the stock traded hands, compared to its average volume of 326,769. Columbus McKinnon Co. has a 1-year low of $11.78 and a 1-year 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. The stock's fifty day simple moving average is $16.62 and its 200-day simple moving average is $29.14. The firm has a market cap of $387.71 million, a P/E ratio of 41.06 and a beta of 1.26.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 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 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

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

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.