Granahan Investment Management LLC Sells 67,857 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Granahan Investment Management LLC lessened its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 19.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,272 shares of the industrial products company's stock after selling 67,857 shares during the quarter. Granahan Investment Management LLC owned approximately 0.99% of Columbus McKinnon worth $10,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG boosted its stake in shares of Columbus McKinnon by 52.7% in the fourth quarter. Deutsche Bank AG now owns 25,779 shares of the industrial products company's stock worth $960,000 after acquiring an additional 8,900 shares during the period. Dean Capital Management lifted its position in Columbus McKinnon by 235.0% in the fourth quarter. Dean Capital Management now owns 51,876 shares of the industrial products company's stock worth $1,932,000 after buying an additional 36,390 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Columbus McKinnon by 1.2% during the 4th quarter. Bank of America Corp DE now owns 611,890 shares of the industrial products company's stock worth $22,787,000 after purchasing an additional 7,201 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Columbus McKinnon by 11.7% during the fourth quarter. Ameriprise Financial Inc. now owns 44,981 shares of the industrial products company's stock valued at $1,675,000 after buying an additional 4,728 shares during the last quarter. Finally, Aristotle Capital Boston LLC increased its stake in Columbus McKinnon by 19.3% in the fourth quarter. Aristotle Capital Boston LLC now owns 701,614 shares of the industrial products company's stock worth $26,128,000 after purchasing an additional 113,685 shares during the period. Institutional investors own 95.96% of the company's stock.

Insider Buying and Selling

In related news, Director Kathryn V. Bohl acquired 2,819 shares of the stock in a transaction on Wednesday, March 19th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chad R. Abraham acquired 20,000 shares of the company's stock in a transaction dated 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 purchase, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 27,819 shares of company stock valued at $473,064 over the last ninety days. Company insiders own 1.98% of the company's stock.

Columbus McKinnon Price Performance

Shares of CMCO opened at $16.52 on Friday. 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's fifty day moving average price is $15.73 and its 200-day moving average price is $27.45. The firm has a market capitalization of $472.69 million, a PE ratio of 50.06 and a beta of 1.33. Columbus McKinnon Co. has a 1-year low of $11.78 and a 1-year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. On average, equities research analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.69%. Columbus McKinnon's payout ratio is 84.85%.

Wall Street Analysts Forecast Growth

CMCO has been the topic of several research analyst reports. StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. DA Davidson reissued 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 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.

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