Columbus McKinnon (NASDAQ:CMCO) Downgraded by StockNews.com to “Hold”

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

Columbus McKinnon Price Performance

Shares of CMCO opened at $36.30 on Thursday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 68.49 and a beta of 1.24. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84. The company has a 50 day moving average of $37.57 and a 200-day moving average of $35.23. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50.

Insider Activity

In related news, Director Christopher J. Stephens acquired 1,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were bought 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 of the company’s stock, valued at $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David J. Wilson bought 31,300 shares of Columbus McKinnon stock in a transaction that occurred on Friday, November 1st. The shares were 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 directly owns 31,300 shares in the company, valued at $1,002,226. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Columbus McKinnon by 2.0% during the second quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock worth $1,629,000 after acquiring an additional 911 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in 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 purchasing an additional 3,426 shares during the period. Envestnet Asset Management Inc. increased its position in Columbus McKinnon by 2.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 161,936 shares of the industrial products company’s stock worth $5,593,000 after buying an additional 3,241 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Columbus McKinnon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after acquiring an additional 7,465 shares during the period. Finally, Renaissance Technologies LLC increased its position 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 during the period. 95.96% of the stock is 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.