Northern Trust Corp Purchases 30,176 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Northern Trust Corp raised its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 12.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 278,237 shares of the industrial products company’s stock after purchasing an additional 30,176 shares during the quarter. Northern Trust Corp’s holdings in Columbus McKinnon were worth $10,362,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. bought a new position in Columbus McKinnon during the 4th quarter valued at about $26,416,000. Asset Management One Co. Ltd. lifted its stake in Columbus McKinnon by 146.4% during 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 acquiring an additional 45,073 shares during the period. Raymond James Financial Inc. bought a new position in Columbus McKinnon during the 4th quarter valued at about $14,799,000. Heartland Advisors Inc. bought a new position in Columbus McKinnon during the 4th quarter valued at about $3,724,000. Finally, Victory Capital Management Inc. lifted its stake in Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after acquiring an additional 398,826 shares during the period. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $17.83 on Friday. The firm’s 50 day moving average price is $15.78 and its 200-day moving average price is $26.91. Columbus McKinnon Co. has a twelve month low of $11.78 and a twelve month 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 stock has a market capitalization of $510.17 million, a PE ratio of 54.03 and a beta of 1.33.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Friday, May 2nd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon’s dividend payout ratio (DPR) is presently 84.85%.

Analysts Set New Price Targets

CMCO has been the topic of several research analyst reports. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. DA Davidson reiterated a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

Insider Transactions at Columbus McKinnon

In other news, Director Kathryn V. Bohl bought 2,819 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now owns 14,812 shares in the company, valued at approximately $266,467.88. The trade was a 23.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chad R. Abraham acquired 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $16.05 per share, with a total value of $321,000.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $321,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

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.