Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 30.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,613 shares of the industrial products company’s stock after selling 6,901 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Columbus McKinnon worth $562,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mascoma Wealth Management LLC purchased a new stake in Columbus McKinnon during the 3rd quarter valued at about $25,000. Quarry LP purchased a new stake in Columbus McKinnon in the 2nd quarter valued at $39,000. Innealta Capital LLC purchased a new position in shares of Columbus McKinnon during the 2nd quarter worth $41,000. CWM LLC grew its holdings in shares of Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,584 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Columbus McKinnon during the second quarter worth about $73,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $39.29 on Friday. The stock has a fifty day simple moving average of $35.09 and a 200-day simple moving average of $35.60. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.13 billion, a PE ratio of 73.77 and a beta of 1.19. Columbus McKinnon Co. has a twelve month low of $29.26 and a twelve month high of $45.84.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were issued a $0.07 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. Columbus McKinnon’s dividend payout ratio is currently 52.83%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the purchase, the director now owns 6,014 shares of the company’s stock, valued at $224,562.76. This represents a 19.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David J. Wilson acquired 31,300 shares of the company’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the transaction, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

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

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.