Columbus McKinnon (NASDAQ:CMCO) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a report published on Thursday.

Columbus McKinnon Stock Up 0.7 %

Shares of CMCO opened at $36.30 on Thursday. The business’s fifty day moving average price is $37.57 and its two-hundred day moving average price is $35.23. 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 52 week low of $29.26 and a 52 week high of $45.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher J. Stephens bought 1,000 shares of the stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the acquisition, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David J. Wilson bought 31,300 shares of the company’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $32.02 per share, with a total value of $1,002,226.00. Following the transaction, the chief executive officer now directly owns 31,300 shares in the company, valued at approximately $1,002,226. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMCO. Rhumbline Advisers grew its holdings in Columbus McKinnon by 2.0% during the second quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock valued at $1,629,000 after purchasing an additional 911 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Columbus McKinnon by 18.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,051 shares of the industrial products company’s stock valued at $762,000 after buying an additional 3,426 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,936 shares of the industrial products company’s stock valued at $5,593,000 after buying an additional 3,241 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Columbus McKinnon by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock worth $65,315,000 after buying an additional 7,465 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Columbus McKinnon by 250.3% during the second quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after acquiring an additional 77,085 shares in the last quarter. 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.