Short Interest in Columbus McKinnon Co. (NASDAQ:CMCO) Increases By 44.3%

Columbus McKinnon Co. (NASDAQ:CMCO) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 712,800 shares, an increase of 44.3% from the February 28th total of 494,000 shares. Based on an average trading volume of 550,900 shares, the short-interest ratio is currently 1.3 days. Currently, 2.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research firms have commented on CMCO. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. DA Davidson reaffirmed a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Insiders Place Their Bets

In other Columbus McKinnon news, Director Chad R. Abraham acquired 20,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $321,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher J. Stephens acquired 5,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $20.27 per share, with a total value of $101,350.00. Following the purchase, the director now directly owns 11,014 shares of the company’s stock, valued at $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,819 shares of company stock worth $473,064 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Columbus McKinnon

Large investors have recently made changes to their positions in the business. Isthmus Partners LLC lifted its position in Columbus McKinnon by 0.5% during the fourth quarter. Isthmus Partners LLC now owns 69,246 shares of the industrial products company’s stock valued at $2,579,000 after purchasing an additional 378 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Columbus McKinnon by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 22,309 shares of the industrial products company’s stock valued at $831,000 after buying an additional 561 shares during the period. Cascade Investment Advisors Inc. boosted its stake in shares of 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 worth $1,233,000 after buying an additional 590 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Columbus McKinnon by 12.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 806 shares during the period. Finally, Sterling Capital Management LLC raised its position in Columbus McKinnon by 810.0% during the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 810 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Performance

Shares of NASDAQ CMCO traded down $0.34 during midday trading on Monday, reaching $16.70. The company had a trading volume of 269,007 shares, compared to its average volume of 295,465. The stock has a market cap of $477.84 million, a P/E ratio of 50.68 and a beta of 1.31. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. Columbus McKinnon has a 1 year low of $15.48 and a 1 year high of $45.84. The business’s 50-day simple moving average is $24.09 and its 200 day simple moving average is $31.67.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. On average, analysts forecast that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, May 2nd. Columbus McKinnon’s dividend payout ratio is presently 84.85%.

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.