StockNews.com Upgrades Columbus McKinnon (NASDAQ:CMCO) to Buy

Columbus McKinnon (NASDAQ:CMCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $37.10 on Friday. The stock’s 50-day moving average is $37.55 and its 200-day moving average is $35.32. The stock has a market cap of $1.06 billion, a P/E ratio of 70.00 and a beta of 1.24. Columbus McKinnon has a 1-year low of $29.26 and a 1-year high of $45.84. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 1,000 shares of the firm’s stock in a transaction 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 approximately $224,562.76. The trade was a 19.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 price of $32.02 per share, for a total transaction of $1,002,226.00. Following the transaction, the chief executive officer now owns 31,300 shares in the company, valued at $1,002,226. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Columbus McKinnon by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after acquiring an additional 7,465 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Columbus McKinnon by 8.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after purchasing an additional 74,831 shares in the last quarter. Systematic Financial Management LP raised its holdings in Columbus McKinnon by 12.0% during the third quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock worth $28,162,000 after buying an additional 83,610 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Columbus McKinnon by 1.6% in 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 buying an additional 10,581 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $14,067,000 after buying an additional 18,802 shares during the last quarter. 95.96% of the stock is currently owned by 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.