Lazard Asset Management LLC Sells 26,006 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Lazard Asset Management LLC reduced its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,669 shares of the industrial products company’s stock after selling 26,006 shares during the quarter. Lazard Asset Management LLC owned approximately 0.68% of Columbus McKinnon worth $7,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its position in Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 810 shares during the period. Park Avenue Securities LLC bought a new position in Columbus McKinnon in the fourth quarter worth $239,000. Freestone Grove Partners LP bought a new position in Columbus McKinnon in the fourth quarter worth $242,000. KLP Kapitalforvaltning AS bought a new position in Columbus McKinnon in the fourth quarter worth $250,000. Finally, MGO One Seven LLC bought a new position in Columbus McKinnon in the fourth quarter worth $256,000. 95.96% of the stock is owned by institutional investors.

Insider Activity

In other Columbus McKinnon news, Director Chad R. Abraham bought 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $321,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn V. Bohl bought 2,819 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the purchase, the director now owns 14,812 shares of the company’s stock, valued at $266,467.88. This represents a 23.51% increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CMCO has been the subject of several recent analyst reports. DA Davidson reiterated a “neutral” rating and set a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $17.84 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The stock has a fifty day moving average price of $15.78 and a two-hundred day moving average price of $27.15. Columbus McKinnon Co. has a 52-week low of $11.78 and a 52-week high of $45.84. The firm has a market capitalization of $510.46 million, a P/E ratio of 54.06 and a beta of 1.33.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Friday, May 2nd were paid a $0.07 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.57%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 84.85%.

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.