Teacher Retirement System of Texas Buys Shares of 44,956 Columbus McKinnon Co. (NASDAQ:CMCO)

Teacher Retirement System of Texas purchased a new position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 44,956 shares of the industrial products company’s stock, valued at approximately $1,674,000.

Several other institutional investors have also modified their holdings of CMCO. Millburn Ridgefield Corp bought a new stake in Columbus McKinnon during the 3rd quarter worth approximately $155,000. Park Avenue Securities LLC bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $239,000. PNC Financial Services Group Inc. increased its position in shares of Columbus McKinnon by 12.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 806 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Columbus McKinnon during the third quarter worth $264,000. Finally, Paloma Partners Management Co bought a new stake in Columbus McKinnon in the 3rd quarter valued at $323,000. Institutional investors own 95.96% of the company’s stock.

Insider Activity

In other Columbus McKinnon news, Director Kathryn V. Bohl bought 2,819 shares of Columbus McKinnon stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now owns 14,812 shares of the company’s stock, valued at $266,467.88. The trade was a 23.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chad R. Abraham purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 27,819 shares of company stock valued at $473,064 in the last quarter. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMCO. DA Davidson reiterated a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Columbus McKinnon Trading Down 1.5 %

Shares of NASDAQ:CMCO opened at $17.86 on Friday. The stock has a market capitalization of $511.03 million, a PE ratio of 54.12 and a beta of 1.31. The company’s 50-day moving average price is $24.47 and its two-hundred day moving average price is $31.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. Columbus McKinnon Co. has a one year low of $15.48 and a one year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. On average, equities analysts forecast that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon’s dividend payout ratio is currently 84.85%.

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.