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 issued to investors on Friday.

Columbus McKinnon Stock Up 0.8 %

Columbus McKinnon stock opened at $37.39 on Friday. The firm has a market capitalization of $1.07 billion, a P/E ratio of 70.55 and a beta of 1.24. The stock’s fifty day simple moving average is $37.55 and its 200-day simple moving average is $35.39. 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.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Insider Buying and Selling

In other Columbus McKinnon news, CEO David J. Wilson acquired 31,300 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the transaction, the chief executive officer now owns 31,300 shares in the company, valued at $1,002,226. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Stephens bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the transaction, the director now directly owns 6,014 shares in the company, valued at approximately $224,562.76. This represents a 19.94 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in shares of Columbus McKinnon by 1,006.0% in the 3rd quarter. Victory Capital Management Inc. now owns 338,424 shares of the industrial products company’s stock valued at $12,183,000 after buying an additional 307,824 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Columbus McKinnon by 152.8% in the third quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock valued at $8,428,000 after acquiring an additional 141,502 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Columbus McKinnon by 120.3% during the second quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock worth $6,899,000 after purchasing an additional 109,075 shares during the last quarter. Bernzott Capital Advisors acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth about $3,766,000. Finally, Systematic Financial Management LP lifted its holdings in shares of 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 purchasing an additional 83,610 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.