Park Avenue Securities LLC Purchases New Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Park Avenue Securities LLC acquired a new position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,430 shares of the industrial products company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Mascoma Wealth Management LLC acquired a new stake in shares of Columbus McKinnon during the third quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of Columbus McKinnon during the 2nd quarter valued at $39,000. Point72 DIFC Ltd purchased a new position in shares of Columbus McKinnon during the 2nd quarter valued at $106,000. Palouse Capital Management Inc. acquired a new position in shares of Columbus McKinnon in the third quarter worth $144,000. Finally, Millburn Ridgefield Corp acquired a new stake in Columbus McKinnon during the third quarter valued at $155,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other Columbus McKinnon news, CEO David J. Wilson acquired 31,300 shares of Columbus McKinnon stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the completion of the transaction, the chief executive officer now owns 31,300 shares of the company’s stock, valued at $1,002,226. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher J. Stephens bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

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

Columbus McKinnon Stock Performance

CMCO stock opened at $37.39 on Friday. The firm has a 50 day moving average of $37.55 and a two-hundred day moving average of $35.37. Columbus McKinnon Co. has a 12 month low of $29.26 and a 12 month high of $45.84. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 70.55 and a beta of 1.24. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50.

Columbus McKinnon Dividend Announcement

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

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.