Columbus McKinnon (NASDAQ:CMCO) Stock Rating Upgraded by StockNews.com

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

Columbus McKinnon Stock Down 0.2 %

Shares of CMCO stock traded down $0.06 during mid-day trading on Wednesday, hitting $35.24. The company’s stock had a trading volume of 182,469 shares, compared to its average volume of 175,014. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 66.49 and a beta of 1.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. Columbus McKinnon has a 52-week low of $29.26 and a 52-week high of $45.84. The business has a 50-day moving average price of $37.37 and a 200 day moving average price of $35.18.

Insider Transactions at Columbus McKinnon

In other news, CEO David J. Wilson bought 31,300 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Stephens purchased 1,000 shares of Columbus McKinnon stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $37.34 per share, with a total value of $37,340.00. Following the transaction, the director now directly owns 6,014 shares in the company, 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. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Columbus McKinnon

Several large investors have recently added to or reduced their stakes in CMCO. Mascoma Wealth Management LLC purchased a new position in shares of Columbus McKinnon during the 3rd quarter worth $25,000. Quarry LP purchased a new position in Columbus McKinnon during the second quarter valued at $39,000. Point72 DIFC Ltd bought a new stake in Columbus McKinnon during the second quarter valued at about $106,000. Palouse Capital Management Inc. purchased a new stake in Columbus McKinnon in the third quarter worth about $144,000. Finally, Millburn Ridgefield Corp bought a new position in shares of Columbus McKinnon in the third quarter worth about $155,000. 95.96% of the stock is currently owned by 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.