AMHERST, N.Y., March 26, 2014 /PRNewswire/ -- Columbus McKinnon Corporation (NASDAQ: CMCO), a leading designer, manufacturer and marketer of material handling products, introduces CM Smart ID™ radio frequency identification (RFID) technology on hoists and rigging products. CM Smart ID™ is available standard on all CM Bandit ratchet lever hoists for the U.S. market – making it the world's first HMI-Certified ratchet lever hoist with RFID technology. It will also be offered as an option on select CM shackles as small as 1/2".
When integrated with a complete inventory and inspection management system, CM Smart ID™ can enable: faster inventory tracking and serialization; more efficient safety inspections; and improved inventory and inspection data accuracy.
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.