Park Avenue Securities LLC Takes Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Park Avenue Securities LLC bought a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,430 shares of the industrial products company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its holdings in Columbus McKinnon by 31.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock valued at $2,104,000 after purchasing an additional 14,018 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Columbus McKinnon by 250.3% in the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock valued at $3,726,000 after buying an additional 77,085 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Columbus McKinnon by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock valued at $14,067,000 after acquiring an additional 18,802 shares during the period. Barclays PLC increased its position in shares of Columbus McKinnon by 214.6% during the 3rd quarter. Barclays PLC now owns 52,987 shares of the industrial products company’s stock worth $1,907,000 after purchasing an additional 36,147 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Columbus McKinnon by 152.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock worth $8,428,000 after purchasing an additional 141,502 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Friday.

Insiders Place Their Bets

In related news, CEO David J. Wilson purchased 31,300 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $32.02 per share, with a total value 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 approximately $1,002,226. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Stephens acquired 1,000 shares of Columbus McKinnon stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the acquisition, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. This represents a 19.94 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Columbus McKinnon Price Performance

Shares of CMCO stock opened at $37.39 on Friday. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84. The stock has a market capitalization of $1.07 billion, a PE ratio of 70.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. The stock’s fifty day moving average is $37.55 and its 200-day moving average is $35.37.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, February 7th. Columbus McKinnon’s payout ratio is presently 52.83%.

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.