MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 626,643 shares of the industrial products company’s stock after acquiring an additional 33,302 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Columbus McKinnon were worth $23,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Isthmus Partners LLC lifted its holdings in Columbus McKinnon by 0.5% in the 4th quarter. Isthmus Partners LLC now owns 69,246 shares of the industrial products company’s stock worth $2,579,000 after buying an additional 378 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Columbus McKinnon by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 22,309 shares of the industrial products company’s stock worth $831,000 after acquiring an additional 561 shares in the last quarter. Cascade Investment Advisors Inc. raised its position in shares of Columbus McKinnon by 1.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 33,110 shares of the industrial products company’s stock worth $1,233,000 after acquiring an additional 590 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Columbus McKinnon by 12.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 806 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 810 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CMCO shares. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. DA Davidson reissued a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Insider Activity at Columbus McKinnon

In related news, Director Chad R. Abraham acquired 20,000 shares of Columbus McKinnon stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn V. Bohl acquired 2,819 shares of Columbus McKinnon stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $17.99 per share, with a total value of $50,713.81. Following the transaction, the director now owns 14,812 shares in the company, valued at $266,467.88. This represents a 23.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Stock Down 2.1%

Shares of NASDAQ:CMCO opened at $17.84 on Thursday. Columbus McKinnon Co. has a 52-week low of $11.78 and a 52-week high of $45.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The firm has a market capitalization of $510.46 million, a P/E ratio of 54.06 and a beta of 1.33. The stock has a 50 day moving average price of $15.78 and a 200-day moving average price of $27.15.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share 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%. As a group, equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

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.