Isthmus Partners LLC Decreases Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Isthmus Partners LLC reduced its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 18.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,868 shares of the industrial products company’s stock after selling 15,825 shares during the period. Isthmus Partners LLC owned approximately 0.24% of Columbus McKinnon worth $2,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in Columbus McKinnon by 14.9% during the third quarter. Fisher Asset Management LLC now owns 236,373 shares of the industrial products company’s stock worth $8,509,000 after acquiring an additional 30,667 shares during the period. Cerity Partners LLC raised its stake in Columbus McKinnon by 15.4% during the third quarter. Cerity Partners LLC now owns 46,036 shares of the industrial products company’s stock worth $1,657,000 after acquiring an additional 6,153 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Columbus McKinnon by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock worth $14,067,000 after acquiring an additional 18,802 shares during the period. Foundry Partners LLC raised its stake in Columbus McKinnon by 27.2% during the third quarter. Foundry Partners LLC now owns 177,055 shares of the industrial products company’s stock worth $6,374,000 after acquiring an additional 37,876 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Columbus McKinnon during the third quarter worth about $264,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $39.10 on Friday. The firm’s 50 day moving average is $34.97 and its two-hundred day moving average is $35.57. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84. The firm has a market capitalization of $1.12 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.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were paid a $0.07 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.72%. Columbus McKinnon’s payout ratio is currently 52.83%.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, CEO David J. Wilson bought 31,300 shares of Columbus McKinnon stock in a transaction that occurred on Friday, November 1st. The stock was purchased 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 owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Stephens purchased 1,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the transaction, the director now owns 6,014 shares in the company, valued at $224,562.76. This 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 company 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.