StockNews.com Downgrades Columbus McKinnon (NASDAQ:CMCO) to Hold

StockNews.com downgraded shares of Columbus McKinnon (NASDAQ:CMCO - Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.

Columbus McKinnon Stock Up 2.6 %

Shares of NASDAQ:CMCO traded up $0.91 during midday trading on Friday, reaching $35.42. 172,487 shares of the company were exchanged, compared to its average volume of 175,490. The firm has a market cap of $1.02 billion, a PE ratio of 66.83 and a beta of 1.22. Columbus McKinnon has a fifty-two week low of $29.26 and a fifty-two week high of $45.84. The stock has a fifty day simple moving average of $37.35 and a two-hundred day simple moving average of $35.40. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon's dividend payout ratio (DPR) is currently 52.83%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the acquisition, the director now owns 6,014 shares of the company's stock, valued at approximately $224,562.76. The trade was a 19.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Access Investment Management LLC grew its position in shares of Columbus McKinnon by 112.1% in the 4th quarter. Access Investment Management LLC now owns 86,900 shares of the industrial products company's stock valued at $3,236,000 after acquiring an additional 45,920 shares during the period. Asset Management One Co. Ltd. lifted its stake in Columbus McKinnon by 146.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company's stock valued at $2,840,000 after purchasing an additional 45,073 shares during the last quarter. Legato Capital Management LLC grew its holdings in Columbus McKinnon by 68.0% during the fourth quarter. Legato Capital Management LLC now owns 54,294 shares of the industrial products company's stock worth $2,022,000 after purchasing an additional 21,979 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Columbus McKinnon during the fourth quarter worth approximately $26,416,000. Finally, Cascade Investment Advisors Inc. raised its stake in Columbus McKinnon by 1.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 33,110 shares of the industrial products company's stock valued at $1,233,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

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.