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

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 488,500 shares, a growth of 29.9% from the December 15th total of 376,000 shares. Based on an average daily volume of 233,600 shares, the short-interest ratio is presently 2.1 days. Currently, 1.8% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Thursday.

Insiders Place Their Bets

In other news, Director Christopher J. Stephens bought 1,000 shares of Columbus McKinnon stock in a transaction dated Thursday, November 14th. The shares were 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 of the company's stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David J. Wilson bought 31,300 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the transaction, 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. Corporate insiders own 1.98% of the company's stock.

Hedge Funds Weigh In On Columbus McKinnon

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Columbus McKinnon by 2.0% during the second quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company's stock worth $1,629,000 after acquiring an additional 911 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Columbus McKinnon by 18.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,051 shares of the industrial products company's stock worth $762,000 after purchasing an additional 3,426 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,936 shares of the industrial products company's stock valued at $5,593,000 after purchasing an additional 3,241 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Columbus McKinnon by 0.4% during 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 buying an additional 7,465 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Columbus McKinnon by 250.3% during the second quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company's stock worth $3,726,000 after buying an additional 77,085 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

Columbus McKinnon stock traded up $0.25 on Friday, reaching $36.30. The company's stock had a trading volume of 129,392 shares, compared to its average volume of 173,381. The business's fifty day moving average price is $37.57 and its 200 day moving average price is $35.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 68.49 and a beta of 1.24. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84.

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.