Victory Capital Management Inc. Grows Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Victory Capital Management Inc. grew its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 117.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,250 shares of the industrial products company’s stock after buying an additional 398,826 shares during the period. Victory Capital Management Inc. owned approximately 2.57% of Columbus McKinnon worth $27,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCO. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Columbus McKinnon in the 4th quarter valued at $26,416,000. Asset Management One Co. Ltd. boosted its stake in shares of Columbus McKinnon by 146.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company’s stock valued at $2,840,000 after purchasing an additional 45,073 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Columbus McKinnon by 31.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock valued at $2,104,000 after purchasing an additional 14,018 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Columbus McKinnon by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock valued at $14,067,000 after purchasing an additional 18,802 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Columbus McKinnon by 72.2% in the 4th quarter. Fisher Asset Management LLC now owns 406,968 shares of the industrial products company’s stock valued at $15,155,000 after purchasing an additional 170,595 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Trading Down 1.4 %

NASDAQ:CMCO opened at $17.68 on Tuesday. The company has a fifty day moving average of $29.10 and a 200 day moving average of $33.10. Columbus McKinnon Co. has a 52 week low of $15.48 and a 52 week high of $45.84. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $505.88 million, a P/E ratio of 53.58 and a beta of 1.31.

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

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a $0.07 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.28 annualized dividend and a yield of 1.58%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 84.85%.

Insiders Place Their Bets

In related news, Director Chad R. Abraham acquired 20,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher J. Stephens acquired 5,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the acquisition, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. This represents a 83.14 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

About Columbus McKinnon

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.