Columbus McKinnon (NASDAQ:CMCO) Upgraded at StockNews.com

StockNews.com upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a buy rating in a research note published on Wednesday morning.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $35.24 on Wednesday. Columbus McKinnon has a 12 month low of $29.26 and a 12 month high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The firm has a market capitalization of $1.01 billion, a PE ratio of 66.49 and a beta of 1.24. The business’s fifty day moving average price is $37.37 and its 200 day moving average price is $35.18.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.79%. The ex-dividend date was Friday, November 8th. Columbus McKinnon’s payout ratio is 52.83%.

Insider Buying and Selling at Columbus McKinnon

In other news, CEO David J. Wilson bought 31,300 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the transaction, the chief executive officer now owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher J. Stephens bought 1,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Columbus McKinnon by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock worth $65,315,000 after purchasing an additional 7,465 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Columbus McKinnon during the second quarter worth about $35,540,000. Lord Abbett & CO. LLC grew its holdings in shares of Columbus McKinnon by 8.1% during the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after buying an additional 74,831 shares during the last quarter. Systematic Financial Management LP increased its position in Columbus McKinnon by 12.0% in the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock valued at $28,162,000 after acquiring an additional 83,610 shares during the period. Finally, Geode Capital Management LLC raised its stake in Columbus McKinnon by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock valued at $24,767,000 after acquiring an additional 10,581 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.