Columbus McKinnon (CMCO) was Smart Insider's stock pick of the week after the company's Chief Executive David Wilson bought $1 million worth of Columbus' shares at $32.02 apiece on Nov. 1.
The purchase, which increased Wilson's ownership by 24% in the company, is his first purchase "despite a reasonable term" with Columbus McKinnon, Smart Insider said in a note Tuesday.
This transaction is the "first meaningful purchase by any insider since February 2012," the note added.
Smart Insider ranked the stock +1, or strongly positive, on Nov. 5.
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