Victory Capital Management Inc. Acquires 398,826 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Victory Capital Management Inc. increased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 117.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 737,250 shares of the industrial products company's stock after acquiring an additional 398,826 shares during the period. Victory Capital Management Inc. owned about 2.57% of Columbus McKinnon worth $27,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMCO. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $26,416,000. Asset Management One Co. Ltd. lifted its position in Columbus McKinnon by 146.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company's stock worth $2,840,000 after buying an additional 45,073 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings 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. Charles Schwab Investment Management Inc. increased its position in Columbus McKinnon by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company's stock valued at $14,067,000 after acquiring an additional 18,802 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Columbus McKinnon by 72.2% in the fourth quarter. Fisher Asset Management LLC now owns 406,968 shares of the industrial products company's stock worth $15,155,000 after acquiring an additional 170,595 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, Director Christopher J. Stephens purchased 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 completion of the transaction, the director now directly owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chad R. Abraham purchased 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $16.05 per share, with a total value of $321,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company's stock.

Columbus McKinnon Trading Up 4.9 %

Shares of NASDAQ CMCO traded up $0.86 during mid-day trading on Friday, hitting $18.34. The company's stock had a trading volume of 541,428 shares, compared to its average volume of 614,540. Columbus McKinnon Co. has a one year low of $15.48 and a one year high of $45.84. The company's fifty day simple moving average is $28.32 and its 200-day simple moving average is $32.87. 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 has a market cap of $524.76 million, a price-to-earnings ratio of 55.58 and a beta of 1.31.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.95% and a return on equity of 8.64%. On average, sell-side analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon's payout ratio is 84.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMCO. StockNews.com lowered shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. DA Davidson reissued a "neutral" rating and issued a $35.00 target price on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

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.