Short Interest in Columbus McKinnon Co. (NASDAQ:CMCO) Increases By 21.4%

by · The Markets Daily

Columbus McKinnon Co. (NASDAQ:CMCO – Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 440,000 shares, an increase of 21.4% from the September 15th total of 362,300 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 213,100 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Check Out Our Latest Stock Report on Columbus McKinnon

Columbus McKinnon Trading Down 0.1 %

CMCO stock traded down $0.05 during trading on Monday, reaching $34.72. 829 shares of the stock were exchanged, compared to its average volume of 172,813. The business has a 50 day moving average price of $33.10 and a 200-day moving average price of $37.16. 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 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 21.46 and a beta of 1.17.

Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $239.73 million for the quarter, compared to analyst estimates of $241.25 million. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, research analysts predict that Columbus McKinnon will post 3.02 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s payout ratio is 17.28%.

Institutional Trading of Columbus McKinnon

Several institutional investors and hedge funds have recently bought and sold shares of CMCO. Quarry LP acquired a new stake in shares of Columbus McKinnon during the second quarter valued at about $39,000. Innealta Capital LLC acquired a new stake in Columbus McKinnon in the 2nd quarter valued at approximately $41,000. CWM LLC raised its position in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,584 shares during the period. nVerses Capital LLC acquired a new position in Columbus McKinnon during the second quarter worth $73,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Columbus McKinnon during the second quarter worth $106,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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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