Cornercap Investment Counsel Inc. Lowers Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Cornercap Investment Counsel Inc. trimmed its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 50.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 13,464 shares of the industrial products company’s stock after selling 13,535 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Columbus McKinnon were worth $485,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Andina Capital Management LLC lifted its holdings in shares of Columbus McKinnon by 3.7% in the 2nd quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 311 shares during the last quarter. GoalVest Advisory LLC increased its position in Columbus McKinnon by 3.1% during the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock worth $682,000 after purchasing an additional 600 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Columbus McKinnon by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 646 shares during the period. Mascoma Wealth Management LLC acquired a new stake in shares of Columbus McKinnon in the 3rd quarter worth approximately $25,000. Finally, Rhumbline Advisers grew its holdings in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock worth $1,629,000 after acquiring an additional 911 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Trading Down 0.8 %

Shares of CMCO opened at $37.14 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.07 billion, a P/E ratio of 70.08 and a beta of 1.19. The stock’s fifty day simple moving average is $33.84 and its 200 day simple moving average is $35.88. Columbus McKinnon Co. has a twelve month low of $29.26 and a twelve month high of $45.84.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, November 8th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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 purchased at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $37.34 per share, with a total value of $37,340.00. Following the completion of the acquisition, 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. Corporate insiders own 1.98% of the company’s stock.

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.