Columbus McKinnon Co. (NASDAQ:CMCO) Short Interest Update

Columbus McKinnon Co. (NASDAQ:CMCO) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 399,400 shares, a decrease of 12.1% from the October 15th total of 454,300 shares. Based on an average daily trading volume, of 235,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Christopher J. Stephens acquired 1,000 shares of Columbus McKinnon stock in a transaction on Thursday, November 14th. The shares were 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 approximately $224,562.76. This represents a 19.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David J. Wilson acquired 31,300 shares of Columbus McKinnon stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the purchase, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. This represents a ∞ 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.

Institutional Trading of Columbus McKinnon

Several hedge funds have recently bought and sold shares of the business. Andina Capital Management LLC grew its position in Columbus McKinnon by 3.7% in the 2nd quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 311 shares during the period. GoalVest Advisory LLC lifted its stake in Columbus McKinnon by 3.1% during the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock valued at $682,000 after acquiring an additional 600 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Columbus McKinnon by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 646 shares in the last quarter. Mascoma Wealth Management LLC bought a new stake in shares of Columbus McKinnon during the 3rd quarter worth $25,000. Finally, Rhumbline Advisers raised its stake in shares of Columbus McKinnon by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock worth $1,629,000 after purchasing an additional 911 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Stock Down 1.2 %

NASDAQ CMCO traded down $0.43 during mid-day trading on Monday, hitting $36.71. The company’s stock had a trading volume of 212,824 shares, compared to its average volume of 184,493. The company’s 50 day simple moving average is $33.97 and its 200 day simple moving average is $35.80. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 69.26 and a beta of 1.19.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 8th. Columbus McKinnon’s payout ratio is currently 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.