Creative Planning Invests $369,000 in Columbus McKinnon Co. (NASDAQ:CMCO)

Creative Planning acquired a new position in Columbus McKinnon Co. (NASDAQ:CMCO) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 10,249 shares of the industrial products company’s stock, valued at approximately $369,000.

Several other large investors have also recently made changes to their positions in CMCO. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Columbus McKinnon in the 2nd quarter worth approximately $35,540,000. Millennium Management LLC lifted its holdings in Columbus McKinnon by 120.3% during the 2nd quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock worth $6,899,000 after buying an additional 109,075 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Columbus McKinnon during the 1st quarter worth approximately $3,791,000. Renaissance Technologies LLC lifted its holdings in Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after buying an additional 77,085 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Columbus McKinnon by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 92,622 shares of the industrial products company’s stock worth $3,199,000 after buying an additional 67,817 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David J. Wilson acquired 31,300 shares of Columbus McKinnon stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares of the company’s stock, valued at $1,002,226. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

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

Columbus McKinnon Price Performance

Shares of CMCO opened at $36.57 on Friday. Columbus McKinnon Co. has a twelve month low of $29.26 and a twelve month high of $45.84. The firm’s fifty day simple moving average is $33.31 and its 200-day simple moving average is $36.10. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 69.00 and a beta of 1.19. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.77%. Columbus McKinnon’s payout ratio is 52.83%.

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.