Raymond James Financial Inc. Takes Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Raymond James Financial Inc. bought a new position in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 397,392 shares of the industrial products company's stock, valued at approximately $14,799,000. Raymond James Financial Inc. owned about 1.39% of Columbus McKinnon as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of Columbus McKinnon by 7.8% in the fourth quarter. Legal & General Group Plc now owns 31,009 shares of the industrial products company's stock valued at $1,155,000 after purchasing an additional 2,241 shares in the last quarter. Invesco Ltd. lifted its stake in Columbus McKinnon by 207.9% in the 4th quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company's stock worth $16,952,000 after acquiring an additional 307,355 shares in the last quarter. Wells Fargo & Company MN boosted its position in Columbus McKinnon by 22.2% during the 4th quarter. Wells Fargo & Company MN now owns 25,467 shares of the industrial products company's stock worth $948,000 after acquiring an additional 4,634 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Columbus McKinnon during the 4th quarter valued at about $313,000. Finally, Foundry Partners LLC increased its holdings in shares of Columbus McKinnon by 4.5% in the 4th quarter. Foundry Partners LLC now owns 185,049 shares of the industrial products company's stock valued at $6,891,000 after purchasing an additional 7,994 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMCO has been the topic of several research reports. DA Davidson reiterated a "neutral" rating and issued 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 note on Tuesday, February 11th.

Columbus McKinnon Stock Up 1.0 %

NASDAQ:CMCO traded up $0.15 during mid-day trading on Friday, reaching $14.92. The stock had a trading volume of 564,540 shares, compared to its average volume of 330,325. The stock has a market cap of $426.91 million, a P/E ratio of 45.21 and a beta of 1.26. The business's 50 day moving average is $16.26 and its 200 day moving average is $28.76. 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 Co. has a fifty-two week low of $11.78 and a fifty-two week high of $45.84.

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

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.88%. Columbus McKinnon's dividend payout ratio (DPR) is presently 84.85%.

Insider Activity

In other news, Director Kathryn V. Bohl purchased 2,819 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the acquisition, the director now directly owns 14,812 shares of the company's stock, valued at approximately $266,467.88. The trade was a 23.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chad R. Abraham bought 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $16.05 per share, with a total value of $321,000.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 27,819 shares of company stock valued at $473,064. Insiders own 1.98% of the company's stock.

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.