Lord Abbett & CO. LLC Increases Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Lord Abbett & CO. LLC raised its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,003,751 shares of the industrial products company’s stock after purchasing an additional 74,831 shares during the period. Lord Abbett & CO. LLC owned 3.50% of Columbus McKinnon worth $36,135,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Columbus McKinnon by 679.8% during 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 last quarter. Bank of New York Mellon Corp grew its position in shares of Columbus McKinnon by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 193,595 shares of the industrial products company’s stock worth $6,687,000 after acquiring an additional 10,669 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Columbus McKinnon by 0.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company’s stock valued at $33,305,000 after purchasing an additional 3,200 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Columbus McKinnon during the 2nd quarter worth $403,000. Finally, Innealta Capital LLC purchased a new position in Columbus McKinnon during the 2nd quarter worth $41,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $38.90 on Friday. Columbus McKinnon Co. has a one year low of $29.26 and a one year high of $45.84. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 73.40 and a beta of 1.23. The company has a 50-day simple moving average of $36.22 and a 200-day simple moving average of $35.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.72%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 52.83%.

Insider Activity

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

Columbus McKinnon 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.