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

Columbus McKinnon Co. (NASDAQ:CMCO) saw a large drop in short interest in 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 trading volume of 235,000 shares, the short-interest ratio is presently 1.7 days. Currently, 1.4% of the shares of the stock are sold short.

Columbus McKinnon Stock Performance

NASDAQ CMCO traded down $0.43 on Monday, hitting $36.71. 212,824 shares of the stock were exchanged, compared to its average volume of 184,493. 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 business’s fifty day moving average is $33.97 and its 200 day moving average is $35.80. Columbus McKinnon has a 52 week low of $29.26 and a 52 week high of $45.84. The company has a market capitalization of $1.05 billion, a PE ratio of 69.26 and a beta of 1.19.

Columbus McKinnon Dividend Announcement

The company 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 yield of 0.76%. The ex-dividend date is Friday, November 8th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, CEO David J. Wilson purchased 31,300 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired 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 in the company, valued at $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. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Columbus McKinnon

Institutional investors and hedge funds have recently modified their holdings of the stock. Mascoma Wealth Management LLC acquired a new position in shares of Columbus McKinnon in the third quarter valued at $25,000. Quarry LP acquired a new position in shares of Columbus McKinnon in the second quarter valued at about $39,000. Innealta Capital LLC acquired a new position in shares of Columbus McKinnon in the second quarter valued at about $41,000. CWM LLC grew its stake in shares of Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 1,584 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Columbus McKinnon in the second quarter valued at about $73,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.