Summit Global Investments Takes $438,000 Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Summit Global Investments bought a new stake in Columbus McKinnon Co. (NASDAQ:CMCO) in the 4th quarter, Holdings Channel reports. The fund bought 11,224 shares of the industrial products company’s stock, valued at approximately $438,000.

Other large investors have also added to or reduced their stakes in the company. Carmel Capital Partners LLC acquired a new position in shares of Columbus McKinnon in the third quarter worth about $27,000. Quantbot Technologies LP purchased a new stake in Columbus McKinnon during the 3rd quarter worth approximately $61,000. New York State Teachers Retirement System acquired a new position in shares of Columbus McKinnon in the 3rd quarter valued at approximately $65,000. Buck Wealth Strategies LLC acquired a new position in shares of Columbus McKinnon in the 3rd quarter valued at approximately $83,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Columbus McKinnon during the 3rd quarter valued at approximately $210,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMCO. DA Davidson boosted their target price on shares of Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. StockNews.com downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th.

Columbus McKinnon Stock Performance

CMCO opened at $42.56 on Monday. Columbus McKinnon Co. has a twelve month low of $30.29 and a twelve month high of $44.97. The stock has a market cap of $1.22 billion, a PE ratio of 25.18 and a beta of 1.27. The business’s 50 day moving average is $42.08 and its 200-day moving average is $38.80. The company has a current ratio of 1.92, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, May 2nd. Columbus McKinnon’s dividend payout ratio (DPR) is presently 16.57%.

Insider Activity at Columbus McKinnon

In other news, CFO Gregory P. Rustowicz sold 9,461 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total value of $392,063.84. Following the sale, the chief financial officer now owns 79,012 shares of the company’s stock, valued at approximately $3,274,257.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.47% of the company’s stock.

About Columbus McKinnon

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.