Fisher Asset Management LLC Buys 170,595 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Fisher Asset Management LLC raised its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 72.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 406,968 shares of the industrial products company’s stock after acquiring an additional 170,595 shares during the quarter. Fisher Asset Management LLC’s holdings in Columbus McKinnon were worth $15,155,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCO. Creative Planning bought a new position in shares of Columbus McKinnon during the third quarter valued at $369,000. Raymond James & Associates increased its position in Columbus McKinnon by 14.4% in the 3rd quarter. Raymond James & Associates now owns 73,087 shares of the industrial products company’s stock valued at $2,631,000 after acquiring an additional 9,179 shares in the last quarter. US Bancorp DE raised its stake in shares of Columbus McKinnon by 33.1% in the third quarter. US Bancorp DE now owns 22,374 shares of the industrial products company’s stock worth $805,000 after acquiring an additional 5,568 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Columbus McKinnon by 31.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock worth $2,104,000 after purchasing an additional 14,018 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its stake in shares of Columbus McKinnon by 22.4% during the third quarter. Chartwell Investment Partners LLC now owns 345,855 shares of the industrial products company’s stock valued at $12,451,000 after purchasing an additional 63,331 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Columbus McKinnon Trading Down 6.9 %

CMCO stock opened at $16.23 on Tuesday. The company has a market cap of $464.39 million, a P/E ratio of 49.18 and a beta of 1.22. Columbus McKinnon Co. has a twelve month low of $15.96 and a twelve month high of $45.84. 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 business has a fifty day moving average of $31.15 and a 200-day moving average of $33.65.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share 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 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.73%. Columbus McKinnon’s payout ratio is currently 84.85%.

Insider Activity at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $20.27 per share, for a total transaction 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. This trade represents a 83.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.98% of the stock is currently owned by corporate insiders.

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.