Verition Fund Management LLC Grows Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Verition Fund Management LLC raised its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 72.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,693 shares of the industrial products company’s stock after buying an additional 8,717 shares during the period. Verition Fund Management LLC owned 0.07% of Columbus McKinnon worth $745,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D increased its position in shares of Columbus McKinnon by 31.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock valued at $2,104,000 after acquiring an additional 14,018 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Columbus McKinnon in the 2nd quarter valued at $35,540,000. Renaissance Technologies LLC increased its position in shares of Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock valued at $3,726,000 after purchasing an additional 77,085 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Columbus McKinnon by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock worth $14,067,000 after purchasing an additional 18,802 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of 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 buying an additional 141,502 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher J. Stephens bought 1,000 shares of Columbus McKinnon stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, for a total transaction 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 trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David J. Wilson purchased 31,300 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of 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 position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $40.59 on Tuesday. The company has a market capitalization of $1.16 billion, a PE ratio of 76.58 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. Columbus McKinnon Co. has a 52-week low of $29.26 and a 52-week high of $45.84. The company has a 50-day simple moving average of $35.84 and a 200 day simple moving average of $35.20.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. Columbus McKinnon’s payout ratio is currently 52.83%.

Columbus McKinnon 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.