First Trust Advisors LP Increases Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

First Trust Advisors LP grew its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,106 shares of the industrial products company’s stock after purchasing an additional 9,316 shares during the quarter. First Trust Advisors LP’s holdings in Columbus McKinnon were worth $3,467,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. purchased a new position in Columbus McKinnon during the 4th quarter worth approximately $26,416,000. Asset Management One Co. Ltd. grew its position in shares of Columbus McKinnon by 146.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company’s stock worth $2,840,000 after acquiring an additional 45,073 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Columbus McKinnon in the 4th quarter valued at $14,799,000. Heartland Advisors Inc. purchased a new stake in Columbus McKinnon in the 4th quarter valued at $3,724,000. Finally, Victory Capital Management Inc. boosted 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 worth $27,455,000 after purchasing an additional 398,826 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

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 purchased at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $321,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn V. Bohl bought 2,819 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of $17.99 per share, with a total value of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares of the company’s stock, valued at $266,467.88. This represents a 23.51 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,819 shares of company stock worth $473,064 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CMCO has been the topic of a number of recent research reports. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. DA Davidson restated a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The company has a market cap of $450.94 million, a PE ratio of 47.76 and a beta of 1.33. The stock has a fifty day moving average price of $15.84 and a 200 day moving average price of $28.04. Columbus McKinnon Co. has a 1-year low of $11.78 and a 1-year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. Sell-side analysts forecast that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be issued a $0.07 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.78%. Columbus McKinnon’s dividend payout ratio is currently 84.85%.

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.