Columbus McKinnon Co. (NASDAQ:CMCO) Sees Significant Growth in Short Interest

Columbus McKinnon Co. (NASDAQ:CMCO) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 488,500 shares, a growth of 29.9% from the December 15th total of 376,000 shares. Based on an average daily trading volume, of 233,600 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Thursday.

Columbus McKinnon Stock Up 0.7 %

Shares of NASDAQ CMCO traded up $0.25 during trading on Friday, hitting $36.30. 129,392 shares of the company traded hands, compared to its average volume of 173,381. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. The business’s fifty day moving average is $37.57 and its 200 day moving average is $35.22. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 68.49 and a beta of 1.24. Columbus McKinnon has a fifty-two week low of $29.26 and a fifty-two week high of $45.84.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.77%. Columbus McKinnon’s dividend payout ratio is 52.83%.

Insider Buying and Selling

In related news, Director Christopher J. Stephens bought 1,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the transaction, the director now directly owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This represents a 19.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David J. Wilson purchased 31,300 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was 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 directly owns 31,300 shares in the company, valued at $1,002,226. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbus McKinnon

A number of large investors have recently modified their holdings of the company. Mascoma Wealth Management LLC bought a new position in shares of Columbus McKinnon in the third quarter valued at $25,000. Quarry LP bought a new position in Columbus McKinnon in the 2nd quarter valued at about $39,000. Point72 DIFC Ltd acquired a new position in Columbus McKinnon during the 2nd quarter valued at about $106,000. Palouse Capital Management Inc. bought a new stake in Columbus McKinnon during the 3rd quarter worth approximately $144,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Columbus McKinnon in the third quarter worth approximately $155,000. 95.96% of the stock is currently owned by institutional investors.

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.