Columbus McKinnon (NASDAQ:CMCO) Stock Rating Lowered by StockNews.com

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Thursday.

Columbus McKinnon Trading Up 0.7 %

Columbus McKinnon stock traded up $0.25 during mid-day trading on Thursday, reaching $36.05. 106,839 shares of the company traded hands, compared to its average volume of 146,794. The firm's 50 day moving average price is $37.58 and its 200 day moving average price is $35.19. Columbus McKinnon has a 52-week low of $29.26 and a 52-week high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 68.02 and a beta of 1.24.

Insider Buying and Selling

In other news, Director Christopher J. Stephens purchased 1,000 shares of the company's stock in a transaction that occurred on 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 directly owns 6,014 shares in the company, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Wilson acquired 31,300 shares of Columbus McKinnon stock in a transaction 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 completion of the purchase, the chief executive officer now owns 31,300 shares in the company, valued at $1,002,226. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Columbus McKinnon by 0.4% in the second 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. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Columbus McKinnon in the second quarter worth $35,540,000. Lord Abbett & CO. LLC lifted its holdings in Columbus McKinnon by 8.1% in the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company's stock valued at $36,135,000 after acquiring an additional 74,831 shares during the period. Systematic Financial Management LP boosted its position in Columbus McKinnon by 12.0% in the third 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 during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Columbus McKinnon by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company's stock valued at $24,767,000 after purchasing an additional 10,581 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.