MetLife Investment Management LLC Grows Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

MetLife Investment Management LLC grew its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,247 shares of the industrial products company’s stock after buying an additional 1,127 shares during the period. MetLife Investment Management LLC’s holdings in Columbus McKinnon were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CMCO. Sterling Capital Management LLC increased its holdings in Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 810 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Columbus McKinnon in the fourth quarter worth about $239,000. KLP Kapitalforvaltning AS bought a new position in Columbus McKinnon during the fourth quarter valued at approximately $250,000. PNC Financial Services Group Inc. grew its holdings in Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock valued at $265,000 after buying an additional 806 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Columbus McKinnon during the 4th quarter worth approximately $276,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $15.76 on Monday. The firm has a market capitalization of $450.94 million, a PE ratio of 47.76 and a beta of 1.33. The stock’s fifty day moving average is $15.84 and its 200 day moving average is $27.99. Columbus McKinnon Co. has a fifty-two week low of $11.78 and a fifty-two 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.

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

Columbus McKinnon Announces Dividend

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

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, Director Chad R. Abraham bought 20,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn V. Bohl purchased 2,819 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. The trade was a 23.51 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 27,819 shares of company stock worth $473,064. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CMCO. 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. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.