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

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

Columbus McKinnon Price Performance

NASDAQ CMCO traded up $0.25 during trading on Friday, reaching $36.30. The company’s stock had a trading volume of 129,392 shares, compared to its average volume of 173,381. Columbus McKinnon has a one year low of $29.26 and a one year high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The stock has a market capitalization of $1.04 billion, a PE ratio of 68.49 and a beta of 1.24. The firm has a fifty day moving average of $37.57 and a 200 day moving average of $35.22.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Analyst Ratings Changes

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

Insider Buying and Selling at Columbus McKinnon

In related news, CEO David J. Wilson purchased 31,300 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the completion of the acquisition, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher J. Stephens acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the acquisition, the director now directly owns 6,014 shares in the company, valued at $224,562.76. This represents a 19.94 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

A number of large investors have recently added to or reduced their stakes in CMCO. Bernzott Capital Advisors purchased a new position in shares of Columbus McKinnon during the 4th quarter valued at about $3,766,000. Park Avenue Securities LLC purchased a new stake in Columbus McKinnon during the 4th quarter valued at about $239,000. Moody National Bank Trust Division grew its position in Columbus McKinnon by 21.6% during the 4th quarter. Moody National Bank Trust Division now owns 17,138 shares of the industrial products company’s stock worth $638,000 after acquiring an additional 3,049 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Columbus McKinnon by 0.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 235,125 shares of the industrial products company’s stock valued at $8,756,000 after purchasing an additional 1,001 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of Columbus McKinnon by 18.9% during the fourth quarter. First Hawaiian Bank now owns 16,267 shares of the industrial products company’s stock valued at $606,000 after purchasing an additional 2,583 shares during the period. Hedge funds and other institutional investors 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.