Columbus McKinnon Co. (NASDAQ:CMCO) Short Interest Update

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.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Columbus McKinnon had a return on equity of 10.53% and a net margin of 4.80%. The company had revenue of $231.74 million for the quarter, compared to the consensus estimate of $235.71 million. As a group, equities research analysts anticipate that Columbus McKinnon will post 2.83 EPS for the current year.

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

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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.