Lazard Asset Management LLC Reduces Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Lazard Asset Management LLC trimmed its position in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,669 shares of the industrial products company's stock after selling 26,006 shares during the period. Lazard Asset Management LLC owned approximately 0.68% of Columbus McKinnon worth $7,212,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Columbus McKinnon during the 4th quarter worth about $26,416,000. Asset Management One Co. Ltd. boosted its position in shares of Columbus McKinnon by 146.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company's stock valued at $2,840,000 after acquiring an additional 45,073 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Columbus McKinnon in the fourth quarter valued at about $14,799,000. Heartland Advisors Inc. bought a new position in Columbus McKinnon during the fourth quarter worth about $3,724,000. Finally, Victory Capital Management Inc. raised its stake in Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock worth $27,455,000 after purchasing an additional 398,826 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kathryn V. Bohl bought 2,819 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost 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. This trade represents a 23.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chad R. Abraham purchased 20,000 shares of the stock in a transaction on 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 acquisition, the director now directly owns 20,000 shares of the company's stock, valued at approximately $321,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company's stock.

Columbus McKinnon Trading Up 0.3%

CMCO traded up $0.06 during midday trading on Monday, reaching $17.89. 189,431 shares of the company's stock traded hands, compared to its average volume of 343,184. 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 stock has a market capitalization of $511.89 million, a price-to-earnings ratio of 54.21 and a beta of 1.33. The firm has a fifty day moving average of $15.78 and a two-hundred day moving average of $26.87. Columbus McKinnon Co. has a 52 week low of $11.78 and a 52 week high of $45.84.

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 1.57%. The ex-dividend date of this dividend was Friday, May 2nd. Columbus McKinnon's dividend payout ratio (DPR) is currently 84.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CMCO shares. DA Davidson reiterated a "neutral" rating and set a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com downgraded shares of 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.