Columbus McKinnon (NASDAQ:CMCO) Raised to “Buy” at StockNews.com

Columbus McKinnon (NASDAQ:CMCO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Columbus McKinnon Price Performance

CMCO stock traded down $0.06 during trading on Wednesday, reaching $35.24. The company’s stock had a trading volume of 182,469 shares, compared to its average volume of 175,014. The company’s fifty day moving average is $37.37 and its 200-day moving average is $35.18. Columbus McKinnon has a 1 year low of $29.26 and a 1 year high of $45.84. The company has a market capitalization of $1.01 billion, a P/E ratio of 66.49 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.

Insider Activity

In related news, CEO David J. Wilson purchased 31,300 shares of Columbus McKinnon stock in a transaction on Friday, November 1st. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Stephens purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $37.34 per share, for a total transaction 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 disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Columbus McKinnon

A number of large investors have recently added to or reduced their stakes in CMCO. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Columbus McKinnon in the second quarter valued at $35,540,000. Victory Capital Management Inc. grew its stake in shares of Columbus McKinnon by 1,006.0% in the 3rd quarter. Victory Capital Management Inc. now owns 338,424 shares of the industrial products company’s stock worth $12,183,000 after buying an additional 307,824 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Columbus McKinnon by 152.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock worth $8,428,000 after buying an additional 141,502 shares during the last quarter. Millennium Management LLC raised its position in shares of Columbus McKinnon by 120.3% during the 2nd quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock valued at $6,899,000 after buying an additional 109,075 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Columbus McKinnon by 12.0% in the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock valued at $28,162,000 after acquiring an additional 83,610 shares during the last quarter. Institutional investors 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.