Columbus McKinnon (NASDAQ:CMCO) Upgraded at StockNews.com

StockNews.com upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a buy rating in a research report report published on Friday.

Columbus McKinnon Trading Up 0.8 %

Columbus McKinnon stock opened at $37.39 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $37.55 and a two-hundred day moving average price of $35.35. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 70.55 and a beta of 1.24. Columbus McKinnon has a 52-week low of $29.26 and a 52-week high of $45.84.

Columbus McKinnon Dividend Announcement

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

Insider Buying and Selling at Columbus McKinnon

In related news, CEO David J. Wilson purchased 31,300 shares of Columbus McKinnon stock in a transaction dated Friday, November 1st. The stock was 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher J. Stephens purchased 1,000 shares of Columbus McKinnon 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 completion of the purchase, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. This trade represents 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 company insiders.

Institutional Trading of Columbus McKinnon

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake 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 worth $65,315,000 after acquiring an additional 7,465 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after purchasing an additional 74,831 shares in the last quarter. Systematic Financial Management LP raised 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 worth $28,162,000 after purchasing an additional 83,610 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Columbus McKinnon by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock worth $24,767,000 after purchasing an additional 10,581 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Columbus McKinnon by 5.1% in 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 purchasing an additional 18,802 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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.