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

Columbus McKinnon Co. (NASDAQ:CMCO) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 488,500 shares, an increase of 29.9% from the December 15th total of 376,000 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 233,600 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Thursday.

Columbus McKinnon Stock Performance

NASDAQ CMCO traded up $0.25 on Friday, hitting $36.30. The stock had a trading volume of 129,392 shares, compared to its average volume of 173,381. The company’s 50-day moving average is $37.57 and its two-hundred day moving average is $35.22. Columbus McKinnon has a one year low of $29.26 and a one year high of $45.84. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 68.49 and a beta of 1.24. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50.

Columbus McKinnon Dividend Announcement

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. This represents a $0.28 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, November 8th. Columbus McKinnon’s payout ratio is currently 52.83%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the purchase, the director now directly owns 6,014 shares in the company, valued at approximately $224,562.76. The trade was a 19.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Wilson purchased 31,300 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC bought a new stake in shares of Columbus McKinnon during the third quarter valued at about $25,000. Quarry LP acquired a new position in Columbus McKinnon during the 2nd quarter valued at about $39,000. Point72 DIFC Ltd bought a new stake in shares of Columbus McKinnon during the 2nd quarter worth about $106,000. Palouse Capital Management Inc. acquired a new stake in shares of Columbus McKinnon in the 3rd quarter worth approximately $144,000. Finally, Millburn Ridgefield Corp bought a new position in shares of Columbus McKinnon in the third quarter valued at approximately $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.