Columbus McKinnon (NASDAQ:CMCO) Rating Increased to Buy at StockNews.com

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

Columbus McKinnon Price Performance

Shares of CMCO stock opened at $35.24 on Wednesday. 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 company has a market capitalization of $1.01 billion, a PE ratio of 66.49 and a beta of 1.24. The firm’s 50-day moving average is $37.37 and its two-hundred day moving average is $35.18. Columbus McKinnon has a 12 month low of $29.26 and a 12 month high of $45.84.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, November 8th. This represents a $0.28 annualized dividend and a yield of 0.79%. Columbus McKinnon’s dividend payout ratio (DPR) is 52.83%.

Insider Buying and Selling at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 1,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the transaction, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David J. Wilson bought 31,300 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 directly owns 31,300 shares in the company, valued at $1,002,226. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds have recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new position in shares of Columbus McKinnon in the third quarter worth $25,000. Quarry LP purchased a new position in Columbus McKinnon in the second quarter valued at $39,000. Point72 DIFC Ltd acquired a new position in Columbus McKinnon during the 2nd quarter worth $106,000. Palouse Capital Management Inc. purchased a new stake in Columbus McKinnon during the 3rd quarter worth about $144,000. Finally, Millburn Ridgefield Corp acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $155,000. 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.