JPMorgan Chase & Co. boosted its position in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 183.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,512 shares of the industrial products company's stock after buying an additional 49,498 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Columbus McKinnon worth $2,849,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC bought a new stake in Columbus McKinnon during the 4th quarter worth approximately $239,000. KLP Kapitalforvaltning AS bought a new stake in Columbus McKinnon during the fourth quarter worth $250,000. PNC Financial Services Group Inc. raised its position in Columbus McKinnon by 12.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock valued at $265,000 after buying an additional 806 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Columbus McKinnon by 18.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,499 shares of the industrial products company's stock valued at $391,000 after buying an additional 1,632 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in Columbus McKinnon in the 4th quarter valued at $425,000. 95.96% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, Director Kathryn V. Bohl acquired 2,819 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $17.99 per share, with a total value of $50,713.81. Following the acquisition, the director now owns 14,812 shares in the company, valued at $266,467.88. The trade was a 23.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chad R. Abraham acquired 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $16.05 per share, with a total value 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 disclosure for this purchase can be found here. In the last 90 days, insiders bought 27,819 shares of company stock valued at $473,064. 1.98% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research firms recently commented on CMCO. StockNews.com lowered 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 target on shares of Columbus McKinnon in a research report on Tuesday, February 18th.
View Our Latest Analysis on CMCO
Columbus McKinnon Stock Performance
Shares of Columbus McKinnon stock traded up $0.10 during trading hours on Monday, hitting $15.02. 333,594 shares of the company's stock traded hands, compared to its average volume of 331,332. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $45.84. The stock has a market capitalization of $429.77 million, a price-to-earnings ratio of 45.52 and a beta of 1.26. The company has a fifty day simple moving average of $16.15 and a 200-day simple moving average of $28.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. Equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.
Columbus McKinnon Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, May 2nd. Columbus McKinnon's dividend payout ratio is presently 84.85%.
Columbus McKinnon Profile
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Free Report)
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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