Front Street Capital Management Inc. Invests $2.04 Million in Columbus McKinnon Co. (NASDAQ:CMCO)

Front Street Capital Management Inc. bought a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 54,788 shares of the industrial products company’s stock, valued at approximately $2,040,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Columbus McKinnon by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after purchasing an additional 19,550 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Columbus McKinnon by 13.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock worth $57,646,000 after buying an additional 184,615 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after buying an additional 74,831 shares during the period. Victory Capital Management Inc. raised its stake in shares of 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 valued at $27,455,000 after buying an additional 398,826 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Columbus McKinnon by 95.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after acquiring an additional 356,232 shares during the period. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Stock Up 0.2 %

CMCO opened at $13.13 on Friday. The firm has a market cap of $375.69 million, a price-to-earnings ratio of 39.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The firm’s 50-day simple moving average is $17.05 and its 200-day simple moving average is $29.63. Columbus McKinnon Co. has a twelve month low of $11.78 and a twelve month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share 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%. Equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.28 annualized dividend and a yield of 2.13%. Columbus McKinnon’s payout ratio is 84.85%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Insider Transactions at Columbus McKinnon

In other news, Director Chad R. Abraham acquired 20,000 shares of the firm’s 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 transaction, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher J. Stephens bought 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $20.27 per share, with a total value of $101,350.00. Following the transaction, the director now owns 11,014 shares of the company’s stock, valued at $223,253.78. The trade was a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 27,819 shares of company stock worth $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.