Columbus McKinnon Co. (NASDAQ:CMCO) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,070 shares of the industrial products company’s stock after buying an additional 311 shares during the period. Arizona State Retirement System’s holdings in Columbus McKinnon were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMCO. Barclays PLC increased its position in Columbus McKinnon by 31.4% during the 3rd quarter. Barclays PLC now owns 1,849 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 442 shares during the period. Point72 Hong Kong Ltd acquired a new position in Columbus McKinnon during the 2nd quarter worth approximately $54,000. Advisor Group Holdings Inc. increased its position in Columbus McKinnon by 51.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 855 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Columbus McKinnon by 28.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,938 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 1,087 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Columbus McKinnon by 81.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,637 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 2,976 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Columbus McKinnon in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Columbus McKinnon has an average rating of “Moderate Buy” and an average target price of $40.00.

Columbus McKinnon Stock Performance

CMCO opened at $36.32 on Wednesday. The stock has a market cap of $1.04 billion, a P/E ratio of 22.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.15 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $35.07 and its 200 day simple moving average is $34.54. Columbus McKinnon Co. has a 1-year low of $23.54 and a 1-year high of $39.85.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 4th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 17.39%.

About Columbus McKinnon

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Columbus McKinnon Corp. engages in the design, manufacture, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.