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

Columbus McKinnon Co. (NASDAQ:CMCO) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 399,400 shares, a decline of 12.1% from the October 15th total of 454,300 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 235,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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 news, CEO David J. Wilson acquired 31,300 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired 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 directly owns 31,300 shares of the company’s stock, valued at $1,002,226. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Stephens bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased 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 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. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Andina Capital Management LLC grew its stake in shares of 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 buying an additional 311 shares during the last quarter. GoalVest Advisory LLC boosted its holdings in shares of Columbus McKinnon by 3.1% during the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock valued at $682,000 after acquiring an additional 600 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Columbus McKinnon by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 646 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in Columbus McKinnon in the 3rd quarter worth about $25,000. Finally, Rhumbline Advisers raised its position in 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 purchasing an additional 911 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

NASDAQ:CMCO traded down $0.29 during trading hours on Friday, hitting $37.14. The company’s stock had a trading volume of 292,470 shares, compared to its average volume of 290,079. Columbus McKinnon has a twelve month low of $29.26 and a twelve 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 stock has a fifty day simple moving average of $33.84 and a 200-day simple moving average of $35.84. The company has a market capitalization of $1.07 billion, a P/E ratio of 70.08 and a beta of 1.19.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th 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, November 8th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 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.