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 published on Friday.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $37.39 on Friday. Columbus McKinnon has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 70.55 and a beta of 1.24. 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 firm’s fifty day moving average price is $37.55 and its 200 day moving average price is $35.35.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is 52.83%.

Insider Buying and Selling

In related news, CEO David J. Wilson bought 31,300 shares of the company’s stock in a transaction dated 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 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher J. Stephens bought 1,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, with a total value of $37,340.00. Following the transaction, 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 disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds and other institutional investors have recently modified their holdings of CMCO. Envestnet Asset Management Inc. increased its position in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,936 shares of the industrial products company’s stock worth $5,593,000 after purchasing an additional 3,241 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Columbus McKinnon by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after buying an additional 7,465 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Columbus McKinnon by 250.3% in the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock valued at $3,726,000 after buying an additional 77,085 shares during the period. XTX Topco Ltd acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at about $223,000. Finally, Sei Investments Co. boosted its holdings in shares of Columbus McKinnon by 9.9% in the 2nd quarter. Sei Investments Co. now owns 125,492 shares of the industrial products company’s stock valued at $4,334,000 after buying an additional 11,292 shares during the period. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

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.