Franklin Resources Inc. Sells 1,379,672 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Franklin Resources Inc. cut its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 73.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 489,516 shares of the industrial products company’s stock after selling 1,379,672 shares during the quarter. Franklin Resources Inc.’s holdings in Columbus McKinnon were worth $17,202,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Columbus McKinnon by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 193,595 shares of the industrial products company’s stock valued at $6,687,000 after buying an additional 10,669 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Columbus McKinnon by 0.3% during the second 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. Legato Capital Management LLC purchased a new position in Columbus McKinnon during the second quarter valued at approximately $403,000. Innealta Capital LLC bought a new position in shares of Columbus McKinnon in the second quarter worth approximately $41,000. Finally, GoalVest Advisory LLC increased its stake in shares of Columbus McKinnon by 3.1% in the second quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock worth $682,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Transactions at Columbus McKinnon

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

Columbus McKinnon Stock Down 0.2 %

CMCO opened at $36.56 on Friday. 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 has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. The firm’s fifty day moving average is $36.46 and its 200 day moving average is $35.11. Columbus McKinnon Co. has a fifty-two week low of $29.26 and a fifty-two week high of $45.84.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were given 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 0.77%. Columbus McKinnon’s payout ratio is 52.83%.

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.