Eagle Boston Investment Management Inc. boosted its position in shares of Columbus McKinnon (NASDAQ:CMCO) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 298,215 shares of the industrial products company’s stock after acquiring an additional 7,322 shares during the quarter. Eagle Boston Investment Management Inc. owned 1.30% of Columbus McKinnon worth $10,688,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Howe & Rusling Inc. purchased a new position in shares of Columbus McKinnon in the 4th quarter valued at about $114,000. SG Americas Securities LLC purchased a new position in shares of Columbus McKinnon in the 1st quarter valued at about $109,000. Globeflex Capital L P purchased a new position in shares of Columbus McKinnon in the 4th quarter valued at about $149,000. Global X Management Co. LLC boosted its stake in shares of Columbus McKinnon by 139.9% in the 1st quarter. Global X Management Co. LLC now owns 6,800 shares of the industrial products company’s stock valued at $244,000 after buying an additional 3,965 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Columbus McKinnon in the 4th quarter valued at about $281,000. Institutional investors own 87.19% of the company’s stock.
Shares of Columbus McKinnon opened at $36.72 on Friday, according to MarketBeat Ratings. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. Columbus McKinnon has a fifty-two week low of $35.83 and a fifty-two week high of $35.99. The stock has a market cap of $834.30 million, a PE ratio of 19.07 and a beta of 1.86.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Friday, May 4th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Thursday, May 3rd. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.04. Columbus McKinnon’s dividend payout ratio (DPR) is 15.15%.
In other news, VP Alan S. Korman sold 1,724 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $36.00, for a total transaction of $62,064.00. Following the sale, the vice president now owns 16,593 shares of the company’s stock, valued at approximately $597,348. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.91% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on the company. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Monday, March 12th. BidaskClub cut Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 4th. Finally, Craig Hallum assumed coverage on Columbus McKinnon in a research note on Monday. They issued a “buy” rating and a $49.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Columbus McKinnon currently has an average rating of “Buy” and a consensus price target of $47.75.
Columbus McKinnon Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.
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