Short Interest in Columbus McKinnon Co. (NASDAQ:CMCO) Grows By 44.3%

Columbus McKinnon Co. (NASDAQ:CMCO) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 712,800 shares, an increase of 44.3% from the February 28th total of 494,000 shares. Based on an average daily volume of 550,900 shares, the short-interest ratio is presently 1.3 days. Approximately 2.6% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Chad R. Abraham purchased 20,000 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $321,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn V. Bohl bought 2,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the transaction, the director now owns 14,812 shares of the company’s stock, valued at $266,467.88. The trade was a 23.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 27,819 shares of company stock valued at $473,064. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Columbus McKinnon by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after purchasing an additional 19,550 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Columbus McKinnon by 13.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock valued at $57,646,000 after purchasing an additional 184,615 shares during the period. Lord Abbett & CO. LLC increased its position in Columbus McKinnon by 8.1% during the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after purchasing an additional 74,831 shares during the last quarter. Systematic Financial Management LP raised its stake in Columbus McKinnon by 6.0% during the fourth quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock worth $30,875,000 after purchasing an additional 46,806 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after buying an additional 398,826 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO traded down $0.82 during trading on Friday, hitting $17.04. 494,701 shares of the stock traded hands, compared to its average volume of 295,530. The company has a fifty day moving average price of $24.09 and a two-hundred day moving average price of $31.66. Columbus McKinnon has a 52-week low of $15.48 and a 52-week high of $45.84. The company has a market cap of $487.57 million, a price-to-earnings ratio of 51.64 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. As a group, equities analysts predict that Columbus McKinnon will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, May 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, May 2nd. Columbus McKinnon’s payout ratio is currently 84.85%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DA Davidson restated a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

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.