Columbus McKinnon Corporation (NASDAQ:CMCO), a leading designer, manufacturer and marketer of material handling products, announced today that President and Chief Executive Officer Timothy T. Tevens and Vice President - Finance and Chief Financial Officer Gregory P. Rustowicz will participate in and host investor meetings at RBC Capital Markets’ Global Industrials Conference in Las Vegas on Tuesday, September 10, 2013. Columbus McKinnon will also be participating in CL King’s 11 th Annual Best Ideas Conference in New York City on Thursday, September 12, 2013. On Tuesday, September 10 th Columbus McKinnon will be hosting a fireside chat at the RBC Capital Markets’ Global Industrials Conference in Las Vegas from 4:15 p.m. to 4:45 p.m. ET. On Thursday, September 12 th Columbus McKinnon will be presenting from 2:00 p.m. to 2:35 p.m. ET at the CL King 11 th Annual Best Ideas Conference in New York City. A link to the audio webcast of the Company’s presentation during the CL King Conference on September 12 th will be available on the Columbus McKinnon website: http://www.cmworks.com. The fireside chat on September 10 th at the RBC Capital Markets Global Industrials Conference will not be webcasted. The accompanying presentation slides will also be available on the Company’s website on September 10 th and 13 th, 2013, respectively, 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 and 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 website at http://www.cmworks.com. Safe Harbor StatementThis news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future revenue and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the effect of operating leverage, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the speed at which shipments improve, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.
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.