Paloma Partners Management Co Invests $323,000 in Columbus McKinnon Co. (NASDAQ:CMCO)

Paloma Partners Management Co bought a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 8,974 shares of the industrial products company’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC purchased a new stake in Columbus McKinnon in the third quarter worth about $25,000. Quarry LP purchased a new position in shares of Columbus McKinnon in the 2nd quarter valued at approximately $39,000. Innealta Capital LLC bought a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $41,000. CWM LLC grew its stake in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,584 shares during the period. Finally, nVerses Capital LLC bought a new position in Columbus McKinnon in the second quarter worth $73,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $39.65 on Friday. The company’s fifty day moving average price is $35.58 and its 200-day moving average price is $35.38. The stock has a market cap of $1.14 billion, a PE ratio of 74.81 and a beta of 1.23. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. Columbus McKinnon Co. has a 12 month low of $29.26 and a 12 month high of $45.84.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, November 8th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 52.83%.

Insider Buying and Selling at Columbus McKinnon

In related news, CEO David J. Wilson acquired 31,300 shares of Columbus McKinnon stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the transaction, the chief executive officer now directly owns 31,300 shares in the company, valued at approximately $1,002,226. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher J. Stephens bought 1,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the acquisition, the director now directly owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This represents a 19.94 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.