Columbus McKinnon Co. (NASDAQ:CMCO) Short Interest Up 29.9% in December

Columbus McKinnon Co. (NASDAQ:CMCO) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 488,500 shares, a growth of 29.9% from the December 15th total of 376,000 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily volume of 233,600 shares, the days-to-cover ratio is currently 2.1 days.

Columbus McKinnon Stock Performance

NASDAQ:CMCO traded up $0.25 during trading hours on Friday, hitting $36.30. 129,392 shares of the company traded hands, compared to its average volume of 173,381. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. Columbus McKinnon has a twelve month low of $29.26 and a twelve month high of $45.84. The firm has a 50-day moving average of $37.57 and a 200 day moving average of $35.22. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 68.49 and a beta of 1.24.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Friday, November 8th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 52.83%.

Insider Activity

In related news, Director Christopher J. Stephens bought 1,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the acquisition, the director now owns 6,014 shares in the company, valued at $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David J. Wilson purchased 31,300 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the acquisition, the chief executive officer now owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Columbus McKinnon

Several large investors have recently added to or reduced their stakes in CMCO. State of New Jersey Common Pension Fund D raised its stake in shares of Columbus McKinnon by 31.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock valued at $2,104,000 after buying an additional 14,018 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Columbus McKinnon in the second quarter valued at about $35,540,000. Renaissance Technologies LLC raised its position in Columbus McKinnon by 250.3% in the second quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after purchasing an additional 77,085 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Columbus McKinnon by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock worth $14,067,000 after purchasing an additional 18,802 shares during the period. Finally, Barclays PLC lifted its stake in Columbus McKinnon by 214.6% during the third quarter. Barclays PLC now owns 52,987 shares of the industrial products company’s stock worth $1,907,000 after purchasing an additional 36,147 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Thursday.

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.