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

Columbus McKinnon (NASDAQ:CMCO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Columbus McKinnon Stock Down 0.8 %

Shares of NASDAQ:CMCO opened at $36.42 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. Columbus McKinnon has a one year low of $29.26 and a one year high of $45.84. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 68.72 and a beta of 1.24. The firm has a fifty day moving average price of $37.53 and a two-hundred day moving average price of $35.45.

Insider Transactions at Columbus McKinnon

In other news, Director Christopher J. Stephens bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the acquisition, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds have recently made changes to their positions in CMCO. Mascoma Wealth Management LLC bought a new position in shares of Columbus McKinnon in the 3rd quarter worth approximately $25,000. Quarry LP purchased a new position in Columbus McKinnon during the second quarter valued at $39,000. Palouse Capital Management Inc. bought a new stake in shares of Columbus McKinnon during the 3rd quarter valued at $144,000. Millburn Ridgefield Corp purchased a new stake in shares of Columbus McKinnon in the 3rd quarter worth about $155,000. Finally, Park Avenue Securities LLC bought a new position in shares of Columbus McKinnon in the 4th quarter worth about $239,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Columbus McKinnon

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.