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. Based on an average daily volume of 233,600 shares, the short-interest ratio is currently 2.1 days. Approximately 1.8% of the company’s shares are short sold.

Columbus McKinnon Trading Up 0.7 %

CMCO traded up $0.25 on Friday, reaching $36.30. 129,392 shares of the company’s stock were exchanged, compared to its average volume of 173,381. The company 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 debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84. The company’s 50 day moving average is $37.57 and its 200-day moving average is $35.22.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, November 8th. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $37.34 per share, with a total value of $37,340.00. Following the purchase, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. This represents a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David J. Wilson acquired 31,300 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Institutional Trading of Columbus McKinnon

Institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its holdings in Columbus McKinnon by 31.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock worth $2,104,000 after acquiring an additional 14,018 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Columbus McKinnon in the second quarter valued at $35,540,000. Renaissance Technologies LLC grew its holdings in Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock valued at $3,726,000 after purchasing an additional 77,085 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Columbus McKinnon by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock worth $14,067,000 after buying an additional 18,802 shares during the period. Finally, Barclays PLC lifted its holdings in Columbus McKinnon by 214.6% in the 3rd quarter. Barclays PLC now owns 52,987 shares of the industrial products company’s stock worth $1,907,000 after buying an additional 36,147 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.