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

Columbus McKinnon (NASDAQ:CMCOGet Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $37.39 on Friday. The business’s 50 day moving average is $37.55 and its 200-day moving average is $35.37. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.07 billion, a PE ratio of 70.55 and a beta of 1.24. Columbus McKinnon has a 1-year low of $29.26 and a 1-year high of $45.84.

Insider Activity

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $37.34 per share, with a total value of $37,340.00. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO David J. Wilson bought 31,300 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMCO. Mascoma Wealth Management LLC acquired a new position in shares of Columbus McKinnon during the third quarter valued at $25,000. Quarry LP bought a new position in shares of Columbus McKinnon in the 2nd quarter valued at about $39,000. Point72 DIFC Ltd acquired a new stake in shares of Columbus McKinnon during the 2nd quarter worth approximately $106,000. Palouse Capital Management Inc. bought a new stake in shares of Columbus McKinnon during the third quarter worth approximately $144,000. Finally, Millburn Ridgefield Corp acquired a new position in Columbus McKinnon in the third quarter valued at approximately $155,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

(Get Free Report)

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.

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