StockNews.com Upgrades Columbus McKinnon (NASDAQ:CMCO) to “Buy”

StockNews.com upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Columbus McKinnon Stock Up 0.8 %

CMCO opened at $37.39 on Friday. Columbus McKinnon has a 52 week low of $29.26 and a 52 week high of $45.84. The business has a 50 day moving average price of $37.55 and a two-hundred day moving average price of $35.39. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.07 billion, a PE ratio of 70.55 and a beta of 1.24.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be issued 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 of this dividend is Friday, February 7th. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, CEO David J. Wilson acquired 31,300 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares of the company’s stock, valued at $1,002,226. This trade represents a ∞ increase in their ownership of the stock. The acquisition 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 business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $37.34 per share, with a total value of $37,340.00. Following the completion of the purchase, the director now 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. 1.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors have recently made changes to their positions in CMCO. Mascoma Wealth Management LLC purchased a new position in shares of Columbus McKinnon in the 3rd quarter valued at about $25,000. Quarry LP purchased a new position in Columbus McKinnon in the second quarter valued at about $39,000. Point72 DIFC Ltd acquired a new stake in shares of Columbus McKinnon during the 2nd quarter valued at approximately $106,000. Palouse Capital Management Inc. purchased a new stake in shares of Columbus McKinnon during the 3rd quarter worth approximately $144,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Columbus McKinnon in the 3rd quarter worth approximately $155,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Company Profile

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.