Columbus McKinnon Co. (NASDAQ:CMCO) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,528 shares of the industrial products company's stock after selling 111,687 shares during the quarter. Nuveen Asset Management LLC owned 1.16% of Columbus McKinnon worth $12,421,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMCO. Vaughan Nelson Investment Management L.P. purchased a new position in Columbus McKinnon during the fourth quarter valued at approximately $26,416,000. Victory Capital Management Inc. raised its position in Columbus McKinnon by 117.8% during the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock valued at $27,455,000 after acquiring an additional 398,826 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Columbus McKinnon during the fourth quarter valued at approximately $14,799,000. Segall Bryant & Hamill LLC raised its position in Columbus McKinnon by 95.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company's stock valued at $27,190,000 after acquiring an additional 356,232 shares in the last quarter. Finally, Invesco Ltd. raised its position in Columbus McKinnon by 207.9% during the fourth quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company's stock valued at $16,952,000 after acquiring an additional 307,355 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

Shares of Columbus McKinnon stock traded down $2.10 on Wednesday, reaching $15.68. The company's stock had a trading volume of 748,005 shares, compared to its average volume of 353,818. The company has a market capitalization of $448.65 million, a P/E ratio of 47.52 and a beta of 1.33. Columbus McKinnon Co. has a 52-week low of $11.78 and a 52-week high of $42.59. The stock has a 50-day moving average price of $15.57 and a 200-day moving average price of $26.01. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $250.05 million. Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. The business's revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Analysts expect that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Friday, May 2nd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon's payout ratio is 84.85%.

Insider Buying and Selling

In other news, Director Chad R. Abraham purchased 20,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn V. Bohl purchased 2,819 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the transaction, the director now directly owns 14,812 shares of the company's stock, valued at $266,467.88. This represents a 23.51% increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.