Columbus McKinnon (NASDAQ:CMCO) Shares Gap Up Following Insider Buying Activity

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) shares gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $31.42, but opened at $32.93. Columbus McKinnon shares last traded at $33.15, with a volume of 134,310 shares trading hands.

Specifically, CEO David J. Wilson acquired 31,300 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was bought 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 of the company's stock, valued at approximately $1,002,226. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

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

Columbus McKinnon Price Performance

The business's fifty day moving average price is $33.18 and its 200-day moving average price is $36.14. 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 company has a market capitalization of $964.84 million, a P/E ratio of 63.45 and a beta of 1.19.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon's dividend payout ratio (DPR) is presently 52.83%.

Institutional Trading of Columbus McKinnon

Several hedge funds have recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC purchased a new position in Columbus McKinnon in the 3rd quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Columbus McKinnon in the 2nd quarter worth approximately $39,000. Innealta Capital LLC purchased a new position in shares of Columbus McKinnon during the second quarter valued at approximately $41,000. CWM LLC boosted its holdings in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock valued at $63,000 after acquiring an additional 1,584 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Columbus McKinnon during the 2nd quarter valued at $73,000. 95.96% of the stock is owned by 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.