Short Interest in Columbus McKinnon Co. (NASDAQ:CMCO) Drops By 11.9%

Columbus McKinnon Co. (NASDAQ:CMCOGet Rating) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 501,600 shares, a decrease of 11.9% from the July 15th total of 569,600 shares. Based on an average daily trading volume, of 139,400 shares, the days-to-cover ratio is presently 3.6 days. Approximately 1.8% of the company’s shares are short sold.

Insiders Place Their Bets

In other Columbus McKinnon news, insider Kurt F. Wozniak sold 10,778 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $34.24, for a total transaction of $369,038.72. Following the transaction, the insider now owns 25,725 shares of the company’s stock, valued at approximately $880,824. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

A number of large investors have recently added to or reduced their stakes in CMCO. GW&K Investment Management LLC increased its holdings in Columbus McKinnon by 125.6% during the 4th quarter. GW&K Investment Management LLC now owns 899,518 shares of the industrial products company’s stock worth $41,611,000 after purchasing an additional 500,868 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Columbus McKinnon during the 1st quarter worth about $17,791,000. Westwood Holdings Group Inc. increased its holdings in Columbus McKinnon by 30.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 725,231 shares of the industrial products company’s stock worth $33,549,000 after purchasing an additional 168,462 shares in the last quarter. Millennium Management LLC bought a new position in Columbus McKinnon during the 2nd quarter worth about $4,663,000. Finally, Assenagon Asset Management S.A. bought a new position in Columbus McKinnon during the 2nd quarter worth about $3,543,000. Institutional investors own 97.70% of the company’s stock.

Columbus McKinnon Trading Down 4.1 %

Shares of CMCO stock traded down $1.42 during trading hours on Wednesday, reaching $33.37. The company had a trading volume of 2,656 shares, compared to its average volume of 88,362. The company has a 50 day moving average of $30.56 and a 200 day moving average of $36.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.02 and a quick ratio of 1.16. The firm has a market cap of $955.05 million, a price-to-earnings ratio of 21.43, a P/E/G ratio of 0.59 and a beta of 1.24. Columbus McKinnon has a 1-year low of $26.42 and a 1-year high of $54.20.

Columbus McKinnon (NASDAQ:CMCOGet Rating) last issued its quarterly earnings data on Wednesday, May 25th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $253.40 million for the quarter, compared to the consensus estimate of $235.33 million. Columbus McKinnon had a return on equity of 10.76% and a net margin of 4.96%. The firm’s revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, equities research analysts anticipate that Columbus McKinnon will post 2.91 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, August 5th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.84%. The ex-dividend date was Thursday, August 4th. Columbus McKinnon’s payout ratio is presently 17.83%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. DA Davidson reduced their price objective on Columbus McKinnon from $50.00 to $45.00 in a report on Monday, June 27th. JPMorgan Chase & Co. downgraded Columbus McKinnon from an “overweight” rating to a “neutral” rating and cut their price target for the company from $64.00 to $37.00 in a research note on Thursday, May 26th. Barrington Research cut their price target on Columbus McKinnon from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Craig Hallum downgraded Columbus McKinnon from a “buy” rating to a “hold” rating and cut their price target for the company from $60.00 to $35.00 in a research note on Wednesday, May 25th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Columbus McKinnon currently has a consensus rating of “Hold” and a consensus price target of $41.25.

Columbus McKinnon Company Profile

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Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.

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