Northern Trust Corp Has $10.36 Million Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Northern Trust Corp boosted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,237 shares of the industrial products company's stock after purchasing an additional 30,176 shares during the quarter. Northern Trust Corp owned about 0.97% of Columbus McKinnon worth $10,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCO. Vaughan Nelson Investment Management L.P. bought a new position in shares of Columbus McKinnon during the fourth quarter worth approximately $26,416,000. Asset Management One Co. Ltd. boosted its stake in Columbus McKinnon by 146.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company's stock valued at $2,840,000 after purchasing an additional 45,073 shares during the period. Raymond James Financial Inc. acquired a new position in Columbus McKinnon in the 4th quarter valued at $14,799,000. Heartland Advisors Inc. bought a new position in Columbus McKinnon during the 4th quarter worth $3,724,000. Finally, Victory Capital Management Inc. increased its position 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 buying an additional 398,826 shares during the period. 95.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Chad R. Abraham acquired 20,000 shares of Columbus McKinnon stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost 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 represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn V. Bohl bought 2,819 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost 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 in the company, valued at approximately $266,467.88. This trade represents a 23.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson reissued a "neutral" rating and issued a $35.00 price objective on shares of Columbus McKinnon in a report on Tuesday, February 18th.

Columbus McKinnon Price Performance

Columbus McKinnon stock traded down $1.21 during mid-day trading on Wednesday, reaching $16.44. 580,605 shares of the company were exchanged, compared to its average volume of 345,566. The firm has a market cap of $470.40 million, a PE ratio of 49.82 and a beta of 1.33. 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 fifty day simple moving average of $15.79 and a 200-day simple moving average of $26.71. Columbus McKinnon Co. has a 12 month low of $11.78 and a 12 month high of $45.75.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon's dividend payout ratio (DPR) is currently 84.85%.

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.