Columbus McKinnon Co. (NASDAQ:CMCO) Sees Significant Decrease in Short Interest

kopsource ·  02/18 13:21

Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 350,000 shares, a decline of 9.4% from the January 15th total of 386,500 shares. Based on an average trading volume of 126,300 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.3% of the company's stock are short sold.

Analysts Set New Price Targets

Separately, raised Columbus McKinnon from a "hold" rating to a "buy" rating in a research note on Monday, November 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from, Columbus McKinnon presently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

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Columbus McKinnon Stock Up 2.4 %

Shares of Columbus McKinnon stock traded up $0.90 during trading on Friday, hitting $38.07. 98,802 shares of the stock traded hands, compared to its average volume of 102,503. The stock has a market cap of $1.09 billion, a P/E ratio of 23.65 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.22 and a current ratio of 2.15. Columbus McKinnon has a twelve month low of $23.54 and a twelve month high of $47.18. The company has a fifty day moving average price of $34.58 and a two-hundred day moving average price of $31.47.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.12. The business had revenue of $230.40 million during the quarter, compared to analyst estimates of $228.49 million. Columbus McKinnon had a return on equity of 10.72% and a net margin of 4.95%. The firm's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Equities research analysts predict that Columbus McKinnon will post 2.87 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 21st. Investors of record on Friday, February 10th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 9th. This represents a $0.28 annualized dividend and a yield of 0.74%. Columbus McKinnon's dividend payout ratio (DPR) is currently 17.39%.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMCO. Franklin Resources Inc. lifted its holdings in Columbus McKinnon by 328.3% in the 4th quarter. Franklin Resources Inc. now owns 1,309,042 shares of the industrial products company's stock worth $42,505,000 after purchasing an additional 1,003,402 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Columbus McKinnon by 647.5% in the 4th quarter. Fisher Asset Management LLC now owns 240,839 shares of the industrial products company's stock worth $7,820,000 after purchasing an additional 208,620 shares during the last quarter. Millennium Management LLC acquired a new stake in Columbus McKinnon in the 2nd quarter worth approximately $4,663,000. Renaissance Technologies LLC lifted its holdings in Columbus McKinnon by 734.1% in the 2nd quarter. Renaissance Technologies LLC now owns 114,985 shares of the industrial products company's stock worth $3,262,000 after purchasing an additional 101,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Columbus McKinnon by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,728,957 shares of the industrial products company's stock worth $56,139,000 after purchasing an additional 74,704 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Company Profile

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Columbus McKinnon Corp. engages in the design, manufacture, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.

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