Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) was the target of a significant drop in short interest in December. As of December 30th, there was short interest totalling 407,700 shares, a drop of 5.9% from the December 15th total of 433,100 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 157,700 shares, the days-to-cover ratio is currently 2.6 days.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Columbus McKinnon by 31.4% in the 3rd quarter. Barclays PLC now owns 1,849 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 442 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at $54,000. Advisor Group Holdings Inc. lifted its stake in shares of Columbus McKinnon by 51.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 855 shares during the period. Amalgamated Bank acquired a new position in shares of Columbus McKinnon in the 1st quarter valued at $142,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Columbus McKinnon by 81.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,637 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 2,976 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.
Columbus McKinnon Stock Up 0.7 %
NASDAQ:CMCO opened at $35.01 on Tuesday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 22.88 and a beta of 1.25. The company’s fifty day moving average price is $32.70 and its 200-day moving average price is $30.59. Columbus McKinnon has a 1-year low of $23.54 and a 1-year high of $48.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.07 and a quick ratio of 1.20.
Wall Street Analysts Forecast Growth
CMCO has been the subject of several recent analyst reports. StockNews.com raised Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Monday, November 14th. DA Davidson lowered their price target on Columbus McKinnon from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.00.
About Columbus McKinnon
Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.
- Get a free copy of the StockNews.com research report on Columbus McKinnon (CMCO)
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