Intech Investment Management LLC Raises Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Intech Investment Management LLC raised its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 72.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,666 shares of the industrial products company’s stock after purchasing an additional 5,333 shares during the quarter. Intech Investment Management LLC’s holdings in Columbus McKinnon were worth $472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC grew its holdings in Columbus McKinnon by 8.1% during the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after acquiring an additional 74,831 shares during the period. Systematic Financial Management LP boosted its position in Columbus McKinnon by 12.0% in the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock worth $28,162,000 after purchasing an additional 83,610 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after purchasing an additional 398,826 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Columbus McKinnon during the 4th quarter valued at approximately $26,416,000. Finally, Geode Capital Management LLC lifted its stake in shares of Columbus McKinnon by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock valued at $24,767,000 after purchasing an additional 10,581 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Trading Up 1.7 %

Shares of Columbus McKinnon stock opened at $18.78 on Tuesday. Columbus McKinnon Co. has a 1-year low of $15.48 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 has a market cap of $537.35 million, a P/E ratio of 56.91 and a beta of 1.31. The stock’s 50 day simple moving average is $25.53 and its 200-day simple moving average is $32.03.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. Analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.49%. Columbus McKinnon’s payout ratio is 84.85%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Columbus McKinnon

In related news, Director Kathryn V. Bohl bought 2,819 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the transaction, the director now directly owns 14,812 shares of the company’s stock, valued at $266,467.88. This represents a 23.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher J. Stephens bought 5,000 shares of the stock in a transaction on 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 purchase, the director now owns 11,014 shares of the company’s stock, valued at $223,253.78. This trade represents a 83.14 % 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 worth $473,064 in the last ninety days. 1.98% of the stock is owned by insiders.

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.