Columbus McKinnon Corp. (NASDAQ:CMCO) announced a quarterly dividend on Tuesday, January 30th, Wall Street Journal reports. Shareholders of record on Friday, February 9th will be paid a dividend of 0.04 per share by the industrial products company on Tuesday, February 20th. This represents a $0.16 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, February 8th.
Shares of Columbus McKinnon (CMCO) opened at $39.47 on Friday. Columbus McKinnon has a 1 year low of $23.13 and a 1 year high of $44.55. The stock has a market cap of $951.45, a P/E ratio of 24.63 and a beta of 1.78. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.18 and a current ratio of 1.96.
Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The business had revenue of $212.80 million during the quarter, compared to analyst estimates of $203.27 million. During the same period in the previous year, the business posted $0.36 earnings per share. Columbus McKinnon’s revenue for the quarter was up 40.0% on a year-over-year basis. equities research analysts anticipate that Columbus McKinnon will post 1.95 EPS for the current year.
In other news, VP Alan S. Korman sold 1,558 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.10, for a total value of $62,475.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark R. Paradowski sold 3,906 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,225 shares of company stock valued at $247,918. Company insiders own 3.91% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Seaport Global Securities restated a “buy” rating and issued a $50.00 price objective on shares of Columbus McKinnon in a report on Wednesday, January 10th. Roth Capital boosted their price objective on shares of Columbus McKinnon from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $47.33.
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About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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