Victory Capital Management Inc. Purchases 307,824 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Victory Capital Management Inc. grew its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 1,006.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,424 shares of the industrial products company's stock after purchasing an additional 307,824 shares during the period. Victory Capital Management Inc. owned approximately 1.18% of Columbus McKinnon worth $12,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Columbus McKinnon in the second quarter worth $35,540,000. Harbor Capital Advisors Inc. grew its position in Columbus McKinnon by 152.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company's stock worth $8,428,000 after purchasing an additional 141,502 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Columbus McKinnon by 120.3% during the 2nd quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company's stock worth $6,899,000 after acquiring an additional 109,075 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Columbus McKinnon by 81.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 173,245 shares of the industrial products company's stock valued at $6,237,000 after purchasing an additional 77,721 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Columbus McKinnon by 250.3% in the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company's stock valued at $3,726,000 after acquiring an additional 77,085 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Columbus McKinnon Trading Up 2.9 %

NASDAQ:CMCO traded up $1.06 during mid-day trading on Thursday, hitting $37.07. 92,851 shares of the company's stock were exchanged, compared to its average volume of 183,548. The firm has a market capitalization of $1.06 billion, a P/E ratio of 67.93 and a beta of 1.19. Columbus McKinnon Co. has a fifty-two week low of $29.26 and a fifty-two week high of $45.84. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $34.20 and a 200-day simple moving average of $35.75.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, November 8th. Columbus McKinnon's dividend payout ratio (DPR) is presently 52.83%.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens acquired 1,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the acquisition, the director now owns 6,014 shares of the company's stock, valued at $224,562.76. This represents a 19.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David J. Wilson acquired 31,300 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the transaction, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Friday, August 2nd.

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.