Columbus McKinnon (NASDAQ:CMCO) Shares Gap Up After Insider Buying Activity

Columbus McKinnon Co. (NASDAQ:CMCO) shares gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $31.42, but opened at $32.93. Columbus McKinnon shares last traded at $33.15, with a volume of 134,310 shares.

Specifically, CEO David J. Wilson acquired 31,300 shares of Columbus McKinnon stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the purchase, the chief executive officer now owns 31,300 shares in the company, valued at $1,002,226. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

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

Columbus McKinnon Trading Up 4.2 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The stock’s 50-day moving average is $33.23 and its two-hundred day moving average is $36.21. The company has a market cap of $939.60 million, a P/E ratio of 59.28 and a beta of 1.19.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, November 8th. Columbus McKinnon’s payout ratio is currently 52.83%.

Institutional Trading of Columbus McKinnon

A number of hedge funds have recently bought and sold shares of CMCO. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Columbus McKinnon in the 2nd quarter worth approximately $35,540,000. Harbor Capital Advisors Inc. boosted its stake in shares of Columbus McKinnon by 152.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock worth $8,428,000 after acquiring an additional 141,502 shares during the last quarter. Millennium Management LLC grew its position in shares of Columbus McKinnon by 120.3% during the 2nd quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock valued at $6,899,000 after acquiring an additional 109,075 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Columbus McKinnon in the 1st quarter worth $3,791,000. Finally, Assenagon Asset Management S.A. lifted its position in Columbus McKinnon by 81.4% during the third quarter. Assenagon Asset Management S.A. now owns 173,245 shares of the industrial products company’s stock valued at $6,237,000 after purchasing an additional 77,721 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

About Columbus McKinnon

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.