Truist Financial Corp Increases Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Truist Financial Corp boosted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 66,726 shares of the industrial products company’s stock after buying an additional 1,424 shares during the period. Truist Financial Corp owned approximately 0.23% of Columbus McKinnon worth $2,604,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Columbus McKinnon by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,509,323 shares of the industrial products company’s stock valued at $52,690,000 after acquiring an additional 14,621 shares during the period. Neumeier Poma Investment Counsel LLC raised its position in Columbus McKinnon by 2.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 511,334 shares of the industrial products company’s stock worth $17,851,000 after purchasing an additional 14,220 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Columbus McKinnon by 9.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 428,941 shares of the industrial products company’s stock worth $14,974,000 after purchasing an additional 35,998 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Columbus McKinnon by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 352,708 shares of the industrial products company’s stock valued at $12,313,000 after buying an additional 8,360 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of Columbus McKinnon by 1.4% during the third quarter. Loomis Sayles & Co. L P now owns 265,585 shares of the industrial products company’s stock valued at $9,272,000 after buying an additional 3,591 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMCO. DA Davidson raised their price target on Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. StockNews.com downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $43.91 on Thursday. The firm’s 50 day simple moving average is $42.16 and its 200-day simple moving average is $38.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 1.92. Columbus McKinnon Co. has a one year low of $30.29 and a one year high of $44.97. The firm has a market cap of $1.26 billion, a PE ratio of 25.98 and a beta of 1.27.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.28 annualized dividend and a yield of 0.64%. Columbus McKinnon’s payout ratio is currently 16.57%.

About Columbus McKinnon

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.