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 research note issued on Wednesday.

Columbus McKinnon Stock Down 0.2 %

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

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, CEO David J. Wilson purchased 31,300 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the purchase, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at $1,002,226. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher J. Stephens acquired 1,000 shares of Columbus McKinnon stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the transaction, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of Columbus McKinnon by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock worth $505,000 after buying an additional 646 shares during the last quarter. Mascoma Wealth Management LLC purchased a new position in Columbus McKinnon in the third quarter worth about $25,000. Rhumbline Advisers increased its stake in 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 last quarter. Providence Capital Advisors LLC raised its position in Columbus McKinnon by 0.8% during the second quarter. Providence Capital Advisors LLC now owns 112,595 shares of the industrial products company’s stock valued at $3,889,000 after purchasing an additional 941 shares during the period. Finally, Quarry LP bought a new position in Columbus McKinnon during the 2nd quarter valued at about $39,000. 95.96% of the stock is owned by hedge funds and other 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.