Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 30.7% during the 3rd quarter, Holdings Channel reports. The fund owned 15,613 shares of the industrial products company’s stock after selling 6,901 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Columbus McKinnon were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 16,174 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Columbus McKinnon by 6.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,384 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 995 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Columbus McKinnon in the first quarter valued at about $259,000. Comerica Bank increased its holdings in Columbus McKinnon by 214.3% in the first quarter. Comerica Bank now owns 12,262 shares of the industrial products company’s stock valued at $547,000 after buying an additional 8,361 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Columbus McKinnon during the 1st quarter worth approximately $847,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $39.29 on Friday. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84. The stock has a market cap of $1.13 billion, a P/E ratio of 73.77 and a beta of 1.19. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $35.09 and a two-hundred day moving average of $35.60.

Columbus McKinnon Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, November 8th. Columbus McKinnon’s payout ratio is currently 52.83%.

Analyst Ratings Changes

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

Insider Buying and Selling at Columbus McKinnon

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