AMHERST, N.Y., May 6, 2014 /PRNewswire/ -- Columbus McKinnon Corporation (NASDAQ: CMCO), a leading designer, manufacturer and marketer of material handling products, has expanded its line of products designed to meet the challenges of the offshore oil and gas industry to include DNV Type Approved shackles and DNV master sub-assemblies. In addition to these products, the company manufactures complete floor-to-ceiling material handling systems, including everything from overhead cranes and lifting beams to chain and rigging hardware for oil and gas applications.
DNV Shackles & Sub-AssembliesColumbus McKinnon now offers an expanded line of DNV Type Approved shackles. These bolt, nut and cotter style shackles meet DNV Standard 2.7-1 Offshore Containers Specifications and comply with DNV Lifting Appliances Requirements. 3.1 works material certificates can be provided upon request. The company also offers a line of serialized shackles and master sub-assemblies that meet DNV Standard 2.7-1 and 2.7-3 Offshore Containers Specifications and 2.22 Lifting Appliances Requirements. These products are witness tested and supplied with CG3 documentation.
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.