Columbus McKinnon Co. (NASDAQ:CMCO) Short Interest Up 44.3% in March

Columbus McKinnon Co. (NASDAQ:CMCO) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 712,800 shares, an increase of 44.3% from the February 28th total of 494,000 shares. Based on an average daily trading volume, of 550,900 shares, the days-to-cover ratio is currently 1.3 days. Approximately 2.6% of the shares of the company are short sold.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $16.93 on Tuesday. The company has a market capitalization of $484.42 million, a price-to-earnings ratio of 51.30 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The stock has a fifty day moving average of $23.70 and a two-hundred day moving average of $31.58. Columbus McKinnon has a fifty-two week low of $15.48 and a fifty-two week high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. On average, analysts anticipate that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Friday, May 2nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.65%. Columbus McKinnon’s dividend payout ratio (DPR) is 84.85%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CMCO shares. DA Davidson reiterated a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Insider Buying and Selling at Columbus McKinnon

In other news, Director Chad R. Abraham acquired 20,000 shares of Columbus McKinnon stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $16.05 per share, with a total value of $321,000.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn V. Bohl bought 2,819 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the purchase, the director now directly owns 14,812 shares in the company, valued at approximately $266,467.88. This represents a 23.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 27,819 shares of company stock valued at $473,064. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC raised its stake in shares of Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after buying an additional 810 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Columbus McKinnon during the third quarter worth approximately $155,000. Park Avenue Securities LLC purchased a new position in shares of Columbus McKinnon during the 4th quarter valued at $239,000. Freestone Grove Partners LP acquired a new position in Columbus McKinnon in the 4th quarter worth about $242,000. Finally, KLP Kapitalforvaltning AS bought a new position in Columbus McKinnon during the fourth quarter valued at approximately $250,000. 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.