Columbus McKinnon (NASDAQ:CMCO) Raised to “Buy” at StockNews.com

Columbus McKinnon (NASDAQ:CMCO) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Columbus McKinnon Stock Down 0.2 %

Shares of NASDAQ:CMCO opened at $35.24 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $37.44 and its 200 day moving average is $35.18. The stock has a market cap of $1.01 billion, a P/E ratio of 66.49 and a beta of 1.24. Columbus McKinnon has a 52-week low of $29.26 and a 52-week high of $45.84.

Insider Activity

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

Institutional Investors Weigh In On Columbus McKinnon

A number of hedge funds and other institutional investors have recently made changes to their positions in CMCO. Mascoma Wealth Management LLC purchased a new stake in Columbus McKinnon during the third quarter worth $25,000. Quarry LP acquired a new position in shares of Columbus McKinnon in the second quarter worth about $39,000. Point72 DIFC Ltd purchased a new stake in shares of Columbus McKinnon during the 2nd quarter worth about $106,000. Palouse Capital Management Inc. acquired a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $144,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Columbus McKinnon in the 3rd quarter valued at about $155,000. Institutional investors and hedge funds 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.