Columbus McKinnon (NASDAQ:CMCO) Upgraded by StockNews.com to Buy Rating

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

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $34.40 on Wednesday. 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 company has a 50-day moving average price of $37.44 and a 200 day moving average price of $35.18. Columbus McKinnon has a 12-month low of $29.26 and a 12-month high of $45.84. The stock has a market cap of $986.94 million, a P/E ratio of 64.91 and a beta of 1.24.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, November 8th. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the acquisition, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David J. Wilson purchased 31,300 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $32.02 per share, with a total value 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 disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Columbus McKinnon in the 2nd quarter valued at approximately $35,540,000. Victory Capital Management Inc. grew its stake in Columbus McKinnon by 1,006.0% during the 3rd quarter. Victory Capital Management Inc. now owns 338,424 shares of the industrial products company’s stock worth $12,183,000 after purchasing an additional 307,824 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Columbus McKinnon by 152.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock worth $8,428,000 after purchasing an additional 141,502 shares in the last quarter. Millennium Management LLC increased its holdings in Columbus McKinnon by 120.3% during the 2nd 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 period. Finally, Systematic Financial Management LP raised 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 purchasing an additional 83,610 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.