Heartland Advisors Inc. Buys Shares of 100,000 Columbus McKinnon Co. (NASDAQ:CMCO)

Heartland Advisors Inc. purchased a new position in Columbus McKinnon Co. (NASDAQ:CMCO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 100,000 shares of the industrial products company’s stock, valued at approximately $3,724,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMCO. JPMorgan Chase & Co. boosted its holdings in Columbus McKinnon by 183.2% in the fourth quarter. JPMorgan Chase & Co. now owns 76,512 shares of the industrial products company’s stock worth $2,849,000 after acquiring an additional 49,498 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Columbus McKinnon by 95.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 356,232 shares in the last quarter. Vanguard Group Inc. grew its position in Columbus McKinnon by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after purchasing an additional 19,550 shares during the last quarter. Bridge City Capital LLC increased its stake in Columbus McKinnon by 18.1% during the 4th quarter. Bridge City Capital LLC now owns 96,218 shares of the industrial products company’s stock valued at $3,583,000 after purchasing an additional 14,742 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in Columbus McKinnon in the fourth quarter worth about $425,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $17.04 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $24.09 and a 200-day moving average price of $31.65. Columbus McKinnon Co. has a 52 week low of $15.48 and a 52 week high of $45.84. The firm has a market capitalization of $487.57 million, a PE ratio of 51.64 and a beta of 1.31.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. As a group, equities research analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon’s dividend payout ratio is 84.85%.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, Director Kathryn V. Bohl acquired 2,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares in the company, valued at $266,467.88. This represents a 23.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Stephens bought 5,000 shares of Columbus McKinnon stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $20.27 per share, with a total value of $101,350.00. Following the completion of the acquisition, the director now owns 11,014 shares of the company’s stock, valued at $223,253.78. The trade was a 83.14 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 27,819 shares of company stock worth $473,064 in the last three months. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CMCO. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. DA Davidson reissued a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th.

Columbus McKinnon 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.