Victory Capital Management Inc. Sells 691,338 Shares of Columbus McKinnon Corporation (NASDAQ:CMCO)

Key Points

• Victory Capital Management Inc. significantly reduced its position in Columbus McKinnon Corporation by 93.8% during the first quarter, selling over 691,000 shares.
• Columbus McKinnon announced a quarterly dividend of $0.07, equating to an annualized yield of 2.0%, despite having a high negative dividend payout ratio of -164.71%.
• The company reported better-than-expected earnings per share of $0.50 for the last quarter, exceeding analyst estimates by $0.03.

Victory Capital Management Inc. trimmed its holdings in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 93.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,912 shares of the industrial products company's stock after selling 691,338 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of Columbus McKinnon worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Columbus McKinnon during the 4th quarter valued at about $14,799,000. Invesco Ltd. boosted its holdings in shares of Columbus McKinnon by 207.9% during the 4th 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 during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Columbus McKinnon by 37.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock valued at $16,513,000 after acquiring an additional 266,020 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Columbus McKinnon by 13.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company's stock valued at $57,646,000 after acquiring an additional 184,615 shares during the last quarter. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Columbus McKinnon during the 4th quarter valued at about $5,145,000. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of NASDAQ CMCO traded down $0.54 during trading on Friday, reaching $14.11. 434,520 shares of the company traded hands, compared to its average volume of 427,441. The firm has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $18.68. The company has a quick ratio of 1.04, a current ratio of 1.85 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $405.31 million, a PE ratio of -26.13 and a beta of 1.30. Columbus McKinnon Corporation has a 52-week low of $11.78 and a 52-week high of $41.05.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $235.92 million for the quarter, compared to the consensus estimate of $230.88 million. Columbus McKinnon had a negative net margin of 1.63% and a positive return on equity of 7.62%. Equities research analysts anticipate that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Friday, August 8th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 8th. Columbus McKinnon's payout ratio is -51.85%.

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.