Insider Buying: Columbus McKinnon Co. (NASDAQ:CMCO) Director Acquires 1,000 Shares of Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Christopher J. Stephens acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the transaction, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $37.14 on Friday. The company’s 50 day moving average is $33.84 and its two-hundred day moving average is $35.91. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. Columbus McKinnon Co. has a 52-week low of $29.26 and a 52-week high of $45.84. The firm has a market cap of $1.07 billion, a PE ratio of 70.08 and a beta of 1.19.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Institutional Investors Weigh In On Columbus McKinnon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Columbus McKinnon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after acquiring an additional 7,465 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Columbus McKinnon by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company’s stock valued at $69,505,000 after purchasing an additional 16,174 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Columbus McKinnon in the 2nd quarter valued at about $35,540,000. Allspring Global Investments Holdings LLC grew its stake in Columbus McKinnon by 0.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company’s stock worth $33,305,000 after buying an additional 3,200 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in Columbus McKinnon by 12.0% during the third quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock worth $28,162,000 after buying an additional 83,610 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Columbus McKinnon Company 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.