Oppenheimer Asset Management Inc. Lowers Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Oppenheimer Asset Management Inc. lowered its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,748 shares of the industrial products company’s stock after selling 303 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Columbus McKinnon were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCO. Mascoma Wealth Management LLC acquired a new position in Columbus McKinnon in the third quarter valued at $25,000. Quarry LP acquired a new position in Columbus McKinnon in the second quarter valued at $39,000. Innealta Capital LLC acquired a new position in Columbus McKinnon in the second quarter valued at $41,000. CWM LLC boosted its holdings in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 1,584 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in Columbus McKinnon in the second quarter valued at $73,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Trading Down 1.2 %

Shares of CMCO opened at $36.71 on Tuesday. The stock’s 50-day moving average is $33.97 and its two-hundred day moving average is $35.80. The stock has a market cap of $1.05 billion, a PE ratio of 69.26 and a beta of 1.19. Columbus McKinnon Co. has a 12 month low of $29.26 and a 12 month high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, November 8th. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Insiders Place Their Bets

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the purchase, the director now owns 6,014 shares in the company, valued at $224,562.76. The trade was a 19.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David J. Wilson purchased 31,300 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the purchase, the chief executive officer now owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. This represents a ? increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Columbus McKinnon Company 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.