Columbus McKinnon Co. (NASDAQ:CMCO) Short Interest Up 14.0% in July

Columbus McKinnon Co. (NASDAQ:CMCO) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 333,500 shares, an increase of 14.0% from the July 15th total of 292,500 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 189,200 shares, the short-interest ratio is currently 1.8 days.

Columbus McKinnon Stock Performance

Shares of CMCO traded down $0.22 during trading hours on Friday, reaching $32.67. 145,275 shares of the company traded hands, compared to its average volume of 160,109. Columbus McKinnon has a 1-year low of $30.29 and a 1-year high of $45.84. The stock has a market cap of $942.82 million, a P/E ratio of 20.17 and a beta of 1.21. The stock’s fifty day moving average is $35.12 and its 200 day moving average is $39.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.25 and a current ratio of 2.07.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $239.73 million during the quarter, compared to the consensus estimate of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Equities research analysts anticipate that Columbus McKinnon will post 3.18 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be paid a $0.07 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.86%. Columbus McKinnon’s payout ratio is 17.28%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CMCO shares. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on Columbus McKinnon in a report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price target for the company.

Insider Activity

In related news, Director Christopher J. Stephens bought 1,500 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was purchased at an average price of $38.71 per share, with a total value of $58,065.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $58,065. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Columbus McKinnon in the second quarter valued at $39,000. Innealta Capital LLC acquired a new position in shares of Columbus McKinnon in the second quarter valued at $41,000. TFO Wealth Partners LLC raised its stake in shares of Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,344 shares in the last quarter. CWM LLC raised its stake in shares of Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,584 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Columbus McKinnon in the second quarter valued at $73,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.