Raymond James & Associates Has $2.63 Million Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Raymond James & Associates grew its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 73,087 shares of the industrial products company’s stock after buying an additional 9,179 shares during the quarter. Raymond James & Associates’ holdings in Columbus McKinnon were worth $2,631,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CMCO. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Columbus McKinnon in the second quarter valued at approximately $35,540,000. Millennium Management LLC raised its holdings in Columbus McKinnon by 120.3% in the second quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock worth $6,899,000 after purchasing an additional 109,075 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Columbus McKinnon in the first quarter worth $3,791,000. Renaissance Technologies LLC raised its holdings in shares of Columbus McKinnon by 250.3% during the second quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after acquiring an additional 77,085 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Columbus McKinnon by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 92,622 shares of the industrial products company’s stock worth $3,199,000 after acquiring an additional 67,817 shares during the period. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Columbus McKinnon Stock Performance

Shares of CMCO opened at $33.63 on Wednesday. The firm has a 50-day moving average of $33.18 and a 200-day moving average of $36.14. Columbus McKinnon Co. has a one year low of $29.26 and a one year high of $45.84. The company has a market cap of $964.84 million, a PE ratio of 63.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon’s payout ratio is 52.83%.

Insider Buying and Selling

In related news, CEO David J. Wilson bought 31,300 shares of Columbus McKinnon stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently 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.