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

Columbus McKinnon (NASDAQ:CMCO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $35.80 on Thursday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 67.55 and a beta of 1.24. 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 12 month low of $29.26 and a 12 month high of $45.84. The stock’s 50 day moving average price is $37.59 and its 200 day moving average price is $35.19.

Insiders Place Their Bets

In other Columbus McKinnon news, Director Christopher J. Stephens acquired 1,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $37.34 per share, with a total value of $37,340.00. Following the purchase, the director now directly owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David J. Wilson bought 31,300 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $32.02 per share, with a total value of $1,002,226.00. Following the completion of the purchase, 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 company insiders.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds have recently modified their holdings of CMCO. Dimensional Fund Advisors LP boosted its position in shares of Columbus McKinnon by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after purchasing an additional 7,465 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Columbus McKinnon during the second quarter valued at about $35,540,000. Lord Abbett & CO. LLC boosted its holdings in shares of Columbus McKinnon by 8.1% in 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 buying an additional 74,831 shares during the period. Systematic Financial Management LP increased its position in shares of Columbus McKinnon by 12.0% in the third quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock worth $28,162,000 after acquiring an additional 83,610 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Columbus McKinnon by 1.6% during the third quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock valued at $24,767,000 after acquiring an additional 10,581 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.