Oppenheimer Asset Management Inc. Reduces Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Oppenheimer Asset Management Inc. lessened its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 1.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,748 shares of the industrial products company’s stock after selling 303 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Columbus McKinnon worth $783,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CMCO. Boston Partners acquired a new stake in Columbus McKinnon during the 1st quarter worth approximately $847,000. Vanguard Group Inc. lifted 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 acquiring an additional 16,174 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Columbus McKinnon during the 2nd quarter worth approximately $35,540,000. State of New Jersey Common Pension Fund D lifted its position in Columbus McKinnon by 31.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock worth $2,104,000 after acquiring an additional 14,018 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after acquiring an additional 77,085 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Columbus McKinnon Stock Down 1.2 %

CMCO opened at $36.71 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The business has a 50 day simple moving average of $33.97 and a 200-day simple moving average of $35.80. The stock has a market capitalization of $1.05 billion, a P/E ratio of 69.26 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.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, November 8th. Columbus McKinnon’s payout ratio is currently 52.83%.

Insider Activity at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $37.34 per share, with a total value of $37,340.00. Following the completion of the transaction, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This represents a 19.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David J. Wilson acquired 31,300 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the transaction, the chief executive officer now owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. This trade 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.

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.