Legato Capital Management LLC Acquires 21,979 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Legato Capital Management LLC raised its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 68.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,294 shares of the industrial products company’s stock after buying an additional 21,979 shares during the period. Legato Capital Management LLC’s holdings in Columbus McKinnon were worth $2,022,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its stake in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after acquiring an additional 74,831 shares during the period. Systematic Financial Management LP increased its holdings in shares of Columbus McKinnon by 12.0% in the third quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock valued at $28,162,000 after purchasing an additional 83,610 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Columbus McKinnon in the fourth quarter valued at $26,416,000. Geode Capital Management LLC raised its position in shares of Columbus McKinnon by 1.6% in the third quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock valued at $24,767,000 after purchasing an additional 10,581 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Columbus McKinnon by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock worth $14,067,000 after buying an additional 18,802 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Trading Down 41.2 %

Shares of Columbus McKinnon stock opened at $20.87 on Wednesday. Columbus McKinnon Co. has a 52-week low of $19.61 and a 52-week high of $45.84. The stock has a market cap of $598.76 million, a PE ratio of 39.38 and a beta of 1.22. The firm has a 50-day moving average of $36.65 and a 200-day moving average of $35.18. 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 (NASDAQ:CMCO) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. As a group, sell-side analysts forecast that Columbus McKinnon Co. will post 2.98 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.34%. Columbus McKinnon’s payout ratio is 52.83%.

Insider Activity

In related news, Director Christopher J. Stephens bought 1,000 shares of Columbus McKinnon stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost 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 approximately $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCO has been the topic of a number of research reports. DA Davidson lowered shares of Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Tuesday. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.