Swiss National Bank lowered its stake in Columbus McKinnon Co. (NASDAQ:CMCO – Free Report) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,711 shares of the industrial products company’s stock after selling 7,300 shares during the period. Swiss National Bank owned 0.22% of Columbus McKinnon worth $2,293,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in CMCO. Advisor Group Holdings Inc. grew its position in shares of Columbus McKinnon by 51.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company’s stock worth $107,000 after buying an additional 855 shares during the period. JPMorgan Chase & Co. boosted its stake in Columbus McKinnon by 31.0% in the 1st quarter. JPMorgan Chase & Co. now owns 144,389 shares of the industrial products company’s stock worth $6,122,000 after purchasing an additional 34,149 shares in the last quarter. Raymond James & Associates lifted its stake in Columbus McKinnon by 36.9% during the 1st quarter. Raymond James & Associates now owns 58,377 shares of the industrial products company’s stock valued at $2,475,000 after acquiring an additional 15,730 shares during the period. Bank of New York Mellon Corp lifted its stake in Columbus McKinnon by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 142,741 shares of the industrial products company’s stock valued at $6,051,000 after acquiring an additional 5,017 shares during the period. Finally, US Bancorp DE lifted its stake in Columbus McKinnon by 27.6% during the 1st quarter. US Bancorp DE now owns 15,359 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 3,321 shares during the period. Institutional investors own 95.96% of the company’s stock.
Columbus McKinnon Stock Performance
Shares of Columbus McKinnon stock opened at $36.75 on Wednesday. The stock’s fifty day moving average price is $39.53 and its 200-day moving average price is $37.70. Columbus McKinnon Co. has a 12 month low of $23.54 and a 12 month high of $42.87. The company has a current ratio of 1.95, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.06 billion, a P/E ratio of 21.93 and a beta of 1.26.
Columbus McKinnon Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, August 10th. Columbus McKinnon’s payout ratio is currently 16.37%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on CMCO shares. DA Davidson increased their price objective on shares of Columbus McKinnon from $44.00 to $48.00 in a report on Thursday, August 3rd. StockNews.com began coverage on Columbus McKinnon in a research report on Thursday, August 17th. They set a “buy” rating for the company.
Check Out Our Latest Stock Report on CMCO
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.
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