Deutsche Bank AG reduced its position in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 47,317 shares of the industrial products company’s stock after selling 3,354 shares during the period. Deutsche Bank AG’s holdings in Columbus McKinnon were worth $1,424,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in Columbus McKinnon by 219.6% during the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,298 shares during the period. Legal & General Group Plc raised its stake in Columbus McKinnon by 14.5% during the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock worth $129,000 after buying an additional 541 shares during the period. Citigroup Inc. raised its stake in Columbus McKinnon by 15.4% during the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock worth $217,000 after buying an additional 957 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Columbus McKinnon by 369.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,307 shares of the industrial products company’s stock worth $220,000 after buying an additional 5,752 shares during the period. Finally, LPL Financial LLC acquired a new position in Columbus McKinnon during the 3rd quarter worth approximately $222,000. 96.56% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. BidaskClub raised Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $44.50.
Shares of Columbus McKinnon stock opened at $37.48 on Friday. The company has a market capitalization of $859.23 million, a PE ratio of 18.65 and a beta of 1.80. Columbus McKinnon Corp. has a 52 week low of $27.66 and a 52 week high of $45.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.78 and a quick ratio of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Columbus McKinnon’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.64%. Columbus McKinnon’s dividend payout ratio is 11.94%.
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Columbus McKinnon Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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