Hillsdale Investment Management Inc. Invests $6.40 Million in Columbus McKinnon Corporation $CMCO

Hillsdale Investment Management Inc. purchased a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 370,728 shares of the industrial products company’s stock, valued at approximately $6,395,000. Hillsdale Investment Management Inc. owned 1.29% of Columbus McKinnon at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. First Eagle Investment Management LLC purchased a new position in shares of Columbus McKinnon during the 4th quarter worth $2,465,000. AlphaQuest LLC grew its holdings in shares of Columbus McKinnon by 118.8% during the 3rd quarter. AlphaQuest LLC now owns 68,122 shares of the industrial products company’s stock worth $977,000 after purchasing an additional 36,986 shares during the period. Bernzott Capital Advisors grew its holdings in shares of Columbus McKinnon by 83.0% during the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company’s stock worth $9,329,000 after purchasing an additional 245,222 shares during the period. CM Management LLC purchased a new position in shares of Columbus McKinnon during the 4th quarter worth $949,000. Finally, Legato Capital Management LLC grew its holdings in shares of Columbus McKinnon by 214.8% during the 4th quarter. Legato Capital Management LLC now owns 67,336 shares of the industrial products company’s stock worth $1,162,000 after purchasing an additional 45,945 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

CMCO stock opened at $15.96 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.83 and a quick ratio of 0.99. The firm has a market capitalization of $458.69 million, a P/E ratio of 76.00 and a beta of 1.39. The business’s 50-day moving average is $15.09 and its two-hundred day moving average is $17.14. Columbus McKinnon Corporation has a 1 year low of $13.31 and a 1 year high of $24.40.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 133.33%.

Analyst Ratings Changes

CMCO has been the subject of a number of research analyst reports. Weiss Ratings cut Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Zacks Research cut Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 22nd. Finally, DA Davidson set a $20.00 target price on Columbus McKinnon in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.50.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.