Franklin Resources Inc. Cuts Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Franklin Resources Inc. decreased its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 73.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 489,516 shares of the industrial products company’s stock after selling 1,379,672 shares during the quarter. Franklin Resources Inc. owned about 1.71% of Columbus McKinnon worth $17,202,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Columbus McKinnon by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after acquiring an additional 7,465 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Columbus McKinnon during the 2nd quarter valued at about $35,540,000. Allspring Global Investments Holdings LLC increased its stake in Columbus McKinnon by 0.3% during 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 in the last quarter. Systematic Financial Management LP raised its holdings in 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 worth $28,162,000 after buying an additional 83,610 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake 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 worth $24,767,000 after buying an additional 10,581 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 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, for a total transaction of $37,340.00. Following the completion of the purchase, the director now directly owns 6,014 shares of the company’s stock, valued at $224,562.76. The trade was a 19.94 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David J. Wilson acquired 31,300 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were bought at an average cost 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 $1,002,226. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Columbus McKinnon Trading Down 0.2 %

NASDAQ:CMCO opened at $36.56 on Friday. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 68.98 and a beta of 1.23. The company’s 50 day moving average price is $36.46 and its 200-day moving average price is $35.11. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50.

Columbus McKinnon Dividend Announcement

The firm also recently announced 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 dividend yield of 0.77%. The ex-dividend date was Friday, November 8th. 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.