StockNews.com Downgrades Columbus McKinnon (NASDAQ:CMCO) to Hold

Columbus McKinnon (NASDAQ:CMCO) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Columbus McKinnon Stock Up 0.7 %

Columbus McKinnon stock opened at $36.30 on Thursday. 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 50-day simple moving average is $37.57 and its two-hundred day simple moving average is $35.22. The company has a market cap of $1.04 billion, a PE 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.

Insider Buying and Selling at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $37.34 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David J. Wilson acquired 31,300 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares in the company, valued at approximately $1,002,226. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Columbus McKinnon by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after buying an additional 7,465 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at about $35,540,000. Lord Abbett & CO. LLC lifted its holdings in shares of Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after buying an additional 74,831 shares during the period. Systematic Financial Management LP raised its holdings in Columbus McKinnon by 12.0% in the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock worth $28,162,000 after purchasing an additional 83,610 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Columbus McKinnon by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock worth $24,767,000 after purchasing an additional 10,581 shares during the period. 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.