Systematic Financial Management LP Boosts Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Systematic Financial Management LP lifted its stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 829,080 shares of the industrial products company's stock after purchasing an additional 46,806 shares during the period. Systematic Financial Management LP owned 2.89% of Columbus McKinnon worth $30,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMCO. Sterling Capital Management LLC lifted its stake in shares of 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 purchasing an additional 810 shares during the period. Park Avenue Securities LLC purchased a new position in Columbus McKinnon during the fourth quarter valued at $239,000. Freestone Grove Partners LP purchased a new stake in shares of Columbus McKinnon in the 4th quarter worth about $242,000. KLP Kapitalforvaltning AS bought a new position in shares of Columbus McKinnon in the 4th quarter worth about $250,000. Finally, MGO One Seven LLC purchased a new position in Columbus McKinnon during the 4th quarter valued at about $256,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCO has been the topic of a number of recent research reports. DA Davidson restated a "neutral" rating and issued a $35.00 price objective on shares of Columbus McKinnon in a report on Tuesday, February 18th. Wall Street Zen cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Columbus McKinnon Stock Down 0.4%

Shares of CMCO traded down $0.06 on Thursday, hitting $16.38. 165,394 shares of the stock traded hands, compared to its average volume of 345,831. Columbus McKinnon Co. has a one year low of $11.78 and a one year high of $45.45. The company has a market capitalization of $468.57 million, a PE ratio of 49.57 and a beta of 1.33. The business has a 50 day simple moving average of $15.75 and a 200 day simple moving average of $26.64. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Friday, May 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon's payout ratio is 84.85%.

Insider Transactions at Columbus McKinnon

In related news, Director Kathryn V. Bohl acquired 2,819 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was purchased 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 directly owns 14,812 shares of the company's stock, valued at approximately $266,467.88. This trade represents a 23.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chad R. Abraham bought 20,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company's stock, valued at $321,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company's stock.

About Columbus McKinnon

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.