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

Columbus McKinnon Co. (NASDAQ:CMCO) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 399,400 shares, a drop 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 presently 1.7 days. Currently, 1.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the acquisition, the director now directly owns 6,014 shares of the company’s stock, valued at $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David J. Wilson acquired 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 acquisition, the chief executive officer now directly owns 31,300 shares in the company, valued at $1,002,226. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

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

Columbus McKinnon Stock Down 0.8 %

NASDAQ:CMCO traded down $0.29 during trading hours on Friday, reaching $37.14. 292,470 shares of the stock were exchanged, compared to its average volume of 290,079. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84. The stock has a market cap of $1.07 billion, a PE ratio of 70.08 and a beta of 1.19. The firm has a 50 day moving average of $33.84 and a 200 day moving average of $35.84.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, November 8th. Columbus McKinnon’s dividend payout ratio (DPR) 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.