Columbus McKinnon Co. (NASDAQ:CMCO) Short Interest Update

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 399,400 shares, a drop of 12.1% from the October 15th total of 454,300 shares. Based on an average daily trading volume, of 235,000 shares, the short-interest ratio is presently 1.7 days. Currently, 1.4% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd.

Insiders Place Their Bets

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the acquisition, the director now directly owns 6,014 shares of the company's stock, valued at $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David J. Wilson acquired 31,300 shares of the business's stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the acquisition, the chief executive officer now directly owns 31,300 shares in the company, valued at $1,002,226. This represents a ∞ 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 Investors Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently made changes to their positions in CMCO. Andina Capital Management LLC raised its position in Columbus McKinnon by 3.7% during the second quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company's stock worth $300,000 after acquiring an additional 311 shares in the last quarter. GoalVest Advisory LLC lifted its stake in Columbus McKinnon by 3.1% in the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company's stock valued at $682,000 after purchasing an additional 600 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Columbus McKinnon by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company's stock worth $505,000 after purchasing an additional 646 shares during the period. Mascoma Wealth Management LLC acquired a new position in Columbus McKinnon during the third quarter worth approximately $25,000. Finally, Rhumbline Advisers lifted its position in shares of Columbus McKinnon by 2.0% in the second quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company's stock valued at $1,629,000 after buying an additional 911 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Down 0.8 %

NASDAQ:CMCO traded down $0.29 during trading hours on Friday, reaching $37.14. 292,470 shares of the stock were exchanged, compared to its average volume of 290,079. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84. The stock has a market cap of $1.07 billion, a PE ratio of 70.08 and a beta of 1.19. The firm has a 50 day moving average of $33.84 and a 200 day moving average of $35.84.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, November 8th. Columbus McKinnon's dividend payout ratio (DPR) is 52.83%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.