Chartwell Investment Partners LLC raised its stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 345,855 shares of the industrial products company's stock after buying an additional 63,331 shares during the quarter. Chartwell Investment Partners LLC owned 1.21% of Columbus McKinnon worth $12,451,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Andina Capital Management LLC raised its position in shares of Columbus McKinnon by 3.7% in the 2nd quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company's stock valued at $300,000 after acquiring an additional 311 shares during the period. GoalVest Advisory LLC raised its holdings in Columbus McKinnon by 3.1% in the second quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company's stock worth $682,000 after purchasing an additional 600 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Columbus McKinnon by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company's stock worth $505,000 after purchasing an additional 646 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company's stock valued at $1,629,000 after buying an additional 911 shares during the period. Finally, Providence Capital Advisors LLC increased its position in shares of Columbus McKinnon by 0.8% in the 2nd quarter. Providence Capital Advisors LLC now owns 112,595 shares of the industrial products company's stock valued at $3,889,000 after buying an additional 941 shares in the last quarter. Institutional investors own 95.96% of the company's stock.
In other Columbus McKinnon news, CEO David J. Wilson acquired 31,300 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the acquisition, the chief executive officer now directly owns 31,300 shares of the company's stock, valued at approximately $1,002,226. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company's stock.
Separately, StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd.
Check Out Our Latest Analysis on Columbus McKinnon
CMCO stock opened at $36.30 on Monday. The stock has a 50-day moving average price of $33.35 and a two-hundred day moving average price of $35.99. Columbus McKinnon Co. has a 1 year low of $29.26 and a 1 year high of $45.84. The stock has a market cap of $1.04 billion, a PE ratio of 68.49 and a beta of 1.19. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon's dividend payout ratio is presently 52.83%.
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.
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