Connor Clark & Lunn Investment Management Ltd. Sells 7,999 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 51.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,614 shares of the industrial products company’s stock after selling 7,999 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Columbus McKinnon were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CMCO. Millburn Ridgefield Corp bought a new stake in Columbus McKinnon in the third quarter valued at $155,000. Park Avenue Securities LLC acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth approximately $239,000. PNC Financial Services Group Inc. grew its position in Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 806 shares during the last quarter. Intech Investment Management LLC bought a new position in Columbus McKinnon in the 3rd quarter valued at $264,000. Finally, Paloma Partners Management Co acquired a new position in Columbus McKinnon in the third quarter worth $323,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $18.46 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $528.20 million, a P/E ratio of 55.94 and a beta of 1.31. The business has a 50-day moving average price of $25.85 and a two-hundred day moving average price of $32.12. Columbus McKinnon Co. has a 1-year low of $15.48 and a 1-year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share 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%. Equities analysts predict that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a $0.07 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.52%. Columbus McKinnon’s dividend payout ratio is 84.85%.

Insider Buying and Selling

In other Columbus McKinnon news, Director Kathryn V. Bohl bought 2,819 shares of Columbus McKinnon stock in a transaction on Wednesday, March 19th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares in the company, valued at approximately $266,467.88. The trade was a 23.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Chad R. Abraham purchased 20,000 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $16.05 per share, with a total value of $321,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $321,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 27,819 shares of company stock valued at $473,064 in the last 90 days. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CMCO. DA Davidson reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.