Lazard Asset Management LLC Has $7.21 Million Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Lazard Asset Management LLC trimmed its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,669 shares of the industrial products company’s stock after selling 26,006 shares during the quarter. Lazard Asset Management LLC’s holdings in Columbus McKinnon were worth $7,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 810 shares during the period. Park Avenue Securities LLC acquired a new stake in Columbus McKinnon in the fourth quarter worth about $239,000. Freestone Grove Partners LP acquired a new stake in Columbus McKinnon in the fourth quarter worth about $242,000. KLP Kapitalforvaltning AS acquired a new stake in Columbus McKinnon in the fourth quarter worth about $250,000. Finally, MGO One Seven LLC bought a new position in Columbus McKinnon during the fourth quarter worth about $256,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Columbus McKinnon news, Director Kathryn V. Bohl acquired 2,819 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the acquisition, the director now directly owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. This trade represents a 23.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Chad R. Abraham acquired 20,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $321,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $17.84 on Thursday. The firm has a market capitalization of $510.46 million, a P/E ratio of 54.06 and a beta of 1.33. Columbus McKinnon Co. has a 1 year low of $11.78 and a 1 year high of $45.84. The business has a 50-day moving average of $15.78 and a 200-day moving average of $27.15. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last released 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 net margin of 0.95% and a return on equity of 8.64%. On average, equities analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon’s dividend payout ratio (DPR) is presently 84.85%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMCO. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. DA Davidson restated a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

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.