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

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

Columbus McKinnon Stock Down 0.6 %

Shares of Columbus McKinnon stock opened at $16.93 on Tuesday. The stock 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 company’s 50 day moving average price is $23.70 and its 200-day moving average price is $31.58. Columbus McKinnon has a 52-week low of $15.48 and a 52-week high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data 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%. Equities research analysts forecast that Columbus McKinnon will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

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

Insider Activity

In related news, Director Christopher J. Stephens acquired 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the acquisition, the director now owns 11,014 shares of the company’s stock, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chad R. Abraham purchased 20,000 shares of Columbus McKinnon stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 27,819 shares of company stock valued at $473,064 over the last quarter. 1.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Columbus McKinnon

A number of large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its position in Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 810 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Columbus McKinnon during the third quarter worth about $155,000. Park Avenue Securities LLC bought a new stake in shares of Columbus McKinnon during the fourth quarter valued at approximately $239,000. Freestone Grove Partners LP bought a new stake in Columbus McKinnon in the 4th quarter valued at $242,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Columbus McKinnon in the fourth quarter worth about $250,000. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

CMCO has been the topic of a number of recent analyst reports. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. DA Davidson reiterated a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

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.