Zurcher Kantonalbank Zurich Cantonalbank Sells 1,074 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,945 shares of the industrial products company’s stock after selling 1,074 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Columbus McKinnon were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CMCO. Carmel Capital Partners LLC purchased a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $27,000. Quantbot Technologies LP bought a new position in Columbus McKinnon in the third quarter worth $61,000. New York State Teachers Retirement System purchased a new position in Columbus McKinnon during the third quarter valued at $65,000. Buck Wealth Strategies LLC bought a new stake in shares of Columbus McKinnon during the 3rd quarter valued at $83,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Columbus McKinnon in the 4th quarter worth about $215,000. 95.96% of the stock is owned by institutional investors.

Insider Transactions at Columbus McKinnon

In related news, CFO Gregory P. Rustowicz sold 9,461 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total transaction of $392,063.84. Following the sale, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at $3,274,257.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.47% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $42.56 on Monday. The firm’s 50-day moving average is $42.08 and its 200 day moving average is $38.80. Columbus McKinnon Co. has a 1 year low of $30.29 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 1.16. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 25.18 and a beta of 1.27.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, May 2nd. Columbus McKinnon’s payout ratio is 16.57%.

Wall Street Analyst Weigh In

Several research firms recently commented on CMCO. StockNews.com lowered shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. DA Davidson boosted their price target on Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 5th.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.