Columbus McKinnon Co. (NASDAQ:CMCO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 33.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,014 shares of the industrial products company’s stock after selling 13,592 shares during the period. JPMorgan Chase & Co. owned 0.09% of Columbus McKinnon worth $973,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mascoma Wealth Management LLC bought a new stake in Columbus McKinnon in the 3rd quarter valued at about $25,000. Quarry LP bought a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $39,000. Point72 DIFC Ltd acquired a new position in shares of Columbus McKinnon during the second quarter worth approximately $106,000. Palouse Capital Management Inc. bought a new position in Columbus McKinnon in the 3rd quarter worth approximately $144,000. Finally, Millburn Ridgefield Corp acquired a new stake in Columbus McKinnon in the 3rd quarter valued at approximately $155,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Friday.

Insider Activity

In other news, CEO David J. Wilson bought 31,300 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the completion of the purchase, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at $1,002,226. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available 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 acquired at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Columbus McKinnon Stock Up 0.8 %

CMCO stock opened at $37.39 on Friday. The firm’s 50-day moving average is $37.55 and its two-hundred day moving average is $35.37. 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 company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 70.55 and a beta of 1.24. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon’s payout ratio is currently 52.83%.

Columbus McKinnon Company 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.