Barrow Hanley Mewhinney & Strauss LLC Boosts Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,547,958 shares of the industrial products company’s stock after purchasing an additional 184,615 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 5.40% of Columbus McKinnon worth $57,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millburn Ridgefield Corp acquired a new stake in shares of Columbus McKinnon during the third quarter valued at about $155,000. Park Avenue Securities LLC acquired a new stake in Columbus McKinnon in the 4th quarter valued at approximately $239,000. KLP Kapitalforvaltning AS purchased a new stake in Columbus McKinnon in the fourth quarter valued at approximately $250,000. PNC Financial Services Group Inc. lifted its stake in Columbus McKinnon by 12.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 806 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Columbus McKinnon during the third quarter worth $264,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Columbus McKinnon news, Director Kathryn V. Bohl bought 2,819 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of $17.99 per share, with a total value of $50,713.81. Following the purchase, the director now owns 14,812 shares in the company, valued at approximately $266,467.88. This represents a 23.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Stephens purchased 5,000 shares of the firm’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 purchase, the director now owns 11,014 shares of the company’s stock, valued at approximately $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 27,819 shares of company stock valued at $473,064. Company insiders own 1.98% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $17.04 on Friday. The company’s 50 day simple moving average is $24.09 and its 200-day simple moving average is $31.66. Columbus McKinnon Co. has a 12-month low of $15.48 and a 12-month high of $45.84. The firm has a market cap of $487.57 million, a PE ratio of 51.64 and a beta of 1.31. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. As a group, equities analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be paid a $0.07 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.64%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 84.85%.

Wall Street Analysts Forecast Growth

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

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.