Columbus McKinnon Corporation (NASDAQ: CMCO), a leading designer, manufacturer and marketer of material handling products, announced today that Vice President, Strategic Initiatives, Karen L. Howard and Vice President - Finance and Chief Financial Officer Gregory P. Rustowicz will present at the Jefferies 2011 Global Industrial and A&D Conference in New York on Wednesday, August 10, 2011 at 3:00 pm EST and host investor meetings throughout the day. An audio webcast of Columbus McKinnon’s presentation will be available at http://www.wsw.com/webcast/jeff57/cmco/ or a link for the presentation will be available at the Columbus McKinnon website: http://www.cmworks.com. Columbus McKinnon’s presentation and a copy of the presentation materials will be available on the Company’s web site at http://www.cmworks.com on August 3, 2011 and archived there for 90 days following completion of the presentation. About Columbus McKinnon Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of material handling products, systems and services, which efficiently and ergonomically move, lift, position or secure materials. Key products include hoists, cranes, actuators, and rigging tools. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available on its web site at http://www.cmworks.com.
Shareholders of Columbus McKinnon Corp. looking to boost their income beyond the stock's 0.6% annualized dividend yield can sell the September covered call at the $30 strike and collect the premium based on the $1.20 bid, which annualizes to an additional 7.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 8% annualized rate in the scenario where the stock is not called away.
Shares of Columbus McKinnon Corporation (Nasdaq:CMCO) were gapping up Thursday morning with an open price 13.5% higher than Wednesday's closing price. The stock closed at $13.88 yesterday and opened today's trading at $15.75.