MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 33,302 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 626,643 shares of the industrial products company’s stock after acquiring an additional 33,302 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.18% of Columbus McKinnon worth $23,336,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CMCO. Vaughan Nelson Investment Management L.P. bought a new position in Columbus McKinnon in the 4th quarter worth about $26,416,000. Victory Capital Management Inc. boosted its holdings in shares of Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after purchasing an additional 398,826 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Columbus McKinnon in the 4th quarter worth about $14,799,000. Segall Bryant & Hamill LLC boosted its holdings in shares of Columbus McKinnon by 95.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 356,232 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Columbus McKinnon by 207.9% in the 4th quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company’s stock worth $16,952,000 after purchasing an additional 307,355 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CMCO. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. DA Davidson reiterated a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a report on Tuesday, February 18th.

Insider Activity at Columbus McKinnon

In related news, Director Chad R. Abraham bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $321,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn V. Bohl bought 2,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the acquisition, the director now directly owns 14,812 shares in the company, valued at $266,467.88. This trade represents a 23.51% 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

CMCO opened at $17.84 on Thursday. The stock has a 50-day moving average price of $15.78 and a 200-day moving average price of $27.15. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $45.84. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $510.46 million, a P/E ratio of 54.06 and a beta of 1.33.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results 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%. Equities analysts predict that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

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

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.