Northern Trust Corp Purchases 30,176 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Northern Trust Corp boosted its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,237 shares of the industrial products company's stock after acquiring an additional 30,176 shares during the period. Northern Trust Corp owned 0.97% of Columbus McKinnon worth $10,362,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CMCO. Barclays PLC grew its stake in Columbus McKinnon by 214.6% during the third quarter. Barclays PLC now owns 52,987 shares of the industrial products company's stock valued at $1,907,000 after acquiring an additional 36,147 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Columbus McKinnon during the fourth quarter valued at approximately $239,000. Cascade Investment Advisors Inc. lifted its position in Columbus McKinnon by 1.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 33,110 shares of the industrial products company's stock valued at $1,233,000 after purchasing an additional 590 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Columbus McKinnon during the fourth quarter valued at approximately $26,416,000. Finally, Legato Capital Management LLC lifted its position in Columbus McKinnon by 68.0% during the fourth quarter. Legato Capital Management LLC now owns 54,294 shares of the industrial products company's stock valued at $2,022,000 after purchasing an additional 21,979 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CMCO. Wall Street Zen lowered shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson reiterated a "neutral" rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Columbus McKinnon Price Performance

Columbus McKinnon stock traded down $0.11 during mid-day trading on Friday, hitting $16.42. 481,393 shares of the company traded hands, compared to its average volume of 349,396. The stock has a market cap of $469.83 million, a price-to-earnings ratio of 49.76 and a beta of 1.33. 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 Co. has a one year low of $11.78 and a one year high of $45.45. The stock has a fifty day moving average price of $15.69 and a 200-day moving average price of $26.42.

Columbus McKinnon Announces Dividend

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

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, Director Chad R. Abraham acquired 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $321,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn V. Bohl acquired 2,819 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $17.99 per share, with a total value 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. The trade was a 23.51% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company's stock.

Columbus McKinnon Company 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.