Columbus McKinnon (NASDAQ:CMCO) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Columbus McKinnon Trading Up 0.7 %

Shares of Columbus McKinnon stock opened at $36.05 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $37.58 and a 200 day simple moving average of $35.19. Columbus McKinnon has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a market capitalization of $1.03 billion, a P/E ratio of 68.02 and a beta of 1.24.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, November 8th. Columbus McKinnon’s payout ratio is currently 52.83%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC bought a new stake in shares of Columbus McKinnon in the 3rd quarter worth approximately $25,000. Quarry LP purchased a new stake in Columbus McKinnon in the second quarter worth $39,000. Point72 DIFC Ltd bought a new stake in shares of Columbus McKinnon in the second quarter valued at $106,000. Palouse Capital Management Inc. purchased a new position in shares of Columbus McKinnon during the 3rd quarter valued at $144,000. Finally, Millburn Ridgefield Corp purchased a new stake in Columbus McKinnon in the 3rd quarter worth about $155,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.