Columbus McKinnon Co. (NASDAQ:CMCO) Holdings Cut by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 50.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,464 shares of the industrial products company’s stock after selling 13,535 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Columbus McKinnon were worth $485,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Columbus McKinnon by 0.9% during the first quarter. Sei Investments Co. now owns 114,200 shares of the industrial products company’s stock valued at $5,097,000 after acquiring an additional 999 shares during the period. ProShare Advisors LLC purchased a new position in Columbus McKinnon during the 1st quarter worth approximately $226,000. State Board of Administration of Florida Retirement System grew its position in Columbus McKinnon by 61.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,978 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 4,920 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Columbus McKinnon by 3.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 60,239 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,042 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Columbus McKinnon by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company’s stock worth $69,505,000 after purchasing an additional 16,174 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Activity at Columbus McKinnon

In other news, CEO David J. Wilson bought 31,300 shares of the business’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the transaction, the chief executive officer now directly owns 31,300 shares in the company, valued at approximately $1,002,226. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Stephens bought 1,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $37.34 per share, with a total value of $37,340.00. Following the transaction, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Columbus McKinnon Trading Down 0.8 %

Shares of NASDAQ:CMCO opened at $37.14 on Friday. The firm has a fifty day moving average of $33.84 and a two-hundred day moving average of $35.88. The firm has a market capitalization of $1.07 billion, a P/E ratio of 70.08 and a beta of 1.19. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon’s payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

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

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.