370,728 Shares in Columbus McKinnon Corporation $CMCO Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. purchased a new stake in Columbus McKinnon Corporation (NASDAQ:CMCO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 370,728 shares of the industrial products company’s stock, valued at approximately $6,395,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Columbus McKinnon by 3.4% in the third quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock valued at $26,873,000 after purchasing an additional 62,267 shares in the last quarter. Invesco Ltd. boosted its holdings in Columbus McKinnon by 22.6% in the third quarter. Invesco Ltd. now owns 1,451,885 shares of the industrial products company’s stock valued at $20,820,000 after purchasing an additional 267,585 shares in the last quarter. Millennium Management LLC boosted its holdings in Columbus McKinnon by 80.3% in the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock valued at $12,203,000 after purchasing an additional 379,096 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Columbus McKinnon by 100.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after purchasing an additional 415,275 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Columbus McKinnon by 1.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 773,176 shares of the industrial products company’s stock valued at $11,087,000 after purchasing an additional 8,344 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CMCO shares. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Wall Street Zen lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 22nd. Finally, DA Davidson set a $20.00 price target on Columbus McKinnon in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.50.

Columbus McKinnon Trading Down 0.9%

CMCO opened at $15.96 on Friday. The firm has a market cap of $458.69 million, a price-to-earnings ratio of 76.00 and a beta of 1.39. Columbus McKinnon Corporation has a 52 week low of $13.31 and a 52 week high of $24.40. The business’s 50 day moving average is $15.09 and its two-hundred day moving average is $17.14. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.8%. Columbus McKinnon’s payout ratio is 133.33%.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.