Victory Capital Management Inc. Increases Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Victory Capital Management Inc. increased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 1,006.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 338,424 shares of the industrial products company’s stock after purchasing an additional 307,824 shares during the period. Victory Capital Management Inc. owned 1.18% of Columbus McKinnon worth $12,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Columbus McKinnon by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock worth $65,315,000 after purchasing an additional 7,465 shares during the period. Vanguard Group Inc. boosted its position in Columbus McKinnon by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company’s stock worth $69,505,000 after purchasing an additional 16,174 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Columbus McKinnon during the 2nd quarter worth $35,540,000. Allspring Global Investments Holdings LLC boosted its position in Columbus McKinnon by 0.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company’s stock valued at $33,305,000 after buying an additional 3,200 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its position in Columbus McKinnon by 22.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 345,855 shares of the industrial products company’s stock valued at $12,451,000 after buying an additional 63,331 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $36.01 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of 67.93 and a beta of 1.19. The firm’s 50-day simple moving average is $34.20 and its 200-day simple moving average is $35.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. Columbus McKinnon Co. has a 1 year low of $29.26 and a 1 year high of $45.84.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.28 annualized dividend and a yield of 0.78%. Columbus McKinnon’s dividend payout ratio (DPR) is 52.83%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In other news, CEO David J. Wilson purchased 31,300 shares of the company’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the purchase, the chief executive officer now owns 31,300 shares of the company’s stock, valued at $1,002,226. This trade represents a ∞ 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 Christopher J. Stephens purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the purchase, the director now directly owns 6,014 shares of the company’s stock, valued at $224,562.76. This trade represents a 19.94 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

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.