Shares of the company are trading at $25.03 a tad below $26.12, the 50 day moving average and which is marginally under the 200 day moving average of $26.14. The 50 day moving average moved down $-1.02 whereas the 200 day average was down by -3.97%. Columbus McKinnon Corporation shares had a trading volume of 126K by the end of trading on Wednesday. Shares saw a steep decrease in trading volume of 21.93% under the normal average daily volume.
Investors are more bearish on shares of Columbus McKinnon Corporation of late if you evaluate the increase in short interest. The company recorded a rise in short interest of 4.95% between June 15, 2017 and May 31, 2017. Short shares grew 37,043 over that timeframe. Days to cover decreased -0.1 to 4.5 and the percentage of shorted shares was 0.03% on May 31.
Here is the rundown on market activity for Columbus McKinnon Corporation (NASDAQ:CMCO). VP, Gen’l Counsel & Secretary Alan S. Korman sold 1,000 shares at an average price of $28.71 on June 9th. Korman now owns $383,604 of stock as recorded in a recent Form 4 SEC filing. Alan S. Korman, VP, Gen’l Counsel & Secretary disclosed the sale of 500 shares. The shares were purchased at an average price of $27.72. Korman now owns $398,096 of the stock per the Form 4 SEC filing.
VP, Gen’l Counsel & Secretary Alan S. Korman let go of 3,000 shares at a price of $27.01 on Fri the 2nd. The VP, Gen’l Counsel & Secretary now owns $401,405 of the stock as reported to the SEC.
These firms have also modified their investment in CMCO. Bank Of Montreal /can/ augmented its investment by buying 30,829 shares an increase of 12,845.4% from 12/31/2016 to 06/30/2017. Bank Of Montreal /can/ controls 31,069 shares with a value of $790,000. The value of the position overall is up by 13,066.7%. Morgan Stanley bolstered its holdings by buying 45 shares an increase of 125.0% as of 03/31/2017. Morgan Stanley currently owns 81 shares worth $2,000. The total value of its holdings increased 100.0%.
As of quarter end Goldman Sachs Group Inc had acquired 25,647 shares growing its stake by 166.5%. The value of the investment in CMCO went from $417,000 to $1,019,000 a change of 144.4% quarter over quarter. As of the end of the quarter Macquarie Group Ltd had bought a total of 80,284 shares growing its position 10.5%. The value in dollars increased from $20,690,000 to $20,984,000 a change of $294,000 quarter to quarter.
On January 15 the company was downgraded from “Accumulate” to “Neutral” in a statement from Seaport Global. On July 28 the company was rated “Buy” by Sidoti & Co. up from the previous “Neutral” rating.
June 1 investment analysts at BB&T Capital held the stock rating at “Buy” but moved down the price target to $28.00 from $31.00. Global Hunter raised the price target and upgraded the stock on October 27 changing the price objective from $23.00 to $28.00 and raising the rating from “Neutral” to “Accumulate”.
On October 27 the stock rating was upgraded to “Accumulate” from “Neutral” with a current price target of $28.00 by Global Hunter. Equity analyst CJS Securities both upgraded the stock and lowered the price target on July 31 cutting the price target from $35.00 to $34.00 and changing the rating from “Market Perform” to “Market Outperform”.
In the market the company is trading up from yesterday’s close of $24.75. Additionally Columbus McKinnon Corporation declared a dividend that was paid on Monday the 15th of May 2017. The dividend was $0.040 per share for the quarter or $0.16 annualized. The dividend yield was $0.66. The ex-dividend date was set for Wednesday the 3rd of May 2017.
The P/E ratio is 58.37 and the market value is 567.16M. As of the last earnings report the EPS was $0.43 and is projected to be $1.69 for the current year with 22,596,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.40 and the next full year EPS is projected to be $2.06.
Columbus McKinnon Corporation, launched on October 23, 1929, is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Business’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems. These products are typically manufactured for stock or assembled to order from standard components and are sold primarily through various commercial distributors and to a lesser extent, directly to end users. The diverse end users of its products are in various industries, including manufacturing, power generation and distribution, utilities, wind power, warehouses, commercial construction, oil and gas exploration and refining, petrochemical, marine, ship building, transportation and heavy duty trucking, agriculture, logging and mining. It also serves entertainment industry, including permanent and traveling concerts, live theater and sporting venues..