Columbus McKinnon Corp. (NASDAQ:CMCO) has received an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $50.00.
A number of equities analysts recently issued reports on the stock. Seaport Global Securities reiterated a “buy” rating and set a $50.00 price objective on shares of Columbus McKinnon in a research report on Wednesday, January 10th. TheStreet cut shares of Columbus McKinnon from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Friday, February 9th. BidaskClub cut shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 8th. Finally, ValuEngine upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
In other Columbus McKinnon news, VP Alan S. Korman sold 1,558 shares of the company’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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark R. Paradowski sold 3,906 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were 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. Corporate insiders own 3.91% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CMCO. The Manufacturers Life Insurance Company increased its position in shares of Columbus McKinnon by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 16,336 shares of the industrial products company’s stock worth $415,000 after buying an additional 414 shares during the period. Teachers Advisors LLC increased its position in shares of Columbus McKinnon by 2.9% during the second quarter. Teachers Advisors LLC now owns 35,886 shares of the industrial products company’s stock worth $912,000 after buying an additional 1,009 shares during the period. Voya Investment Management LLC increased its position in shares of Columbus McKinnon by 10.8% during the second quarter. Voya Investment Management LLC now owns 12,389 shares of the industrial products company’s stock worth $315,000 after buying an additional 1,208 shares during the period. Susquehanna International Group LLP increased its position in shares of Columbus McKinnon by 2.8% during the third quarter. Susquehanna International Group LLP now owns 47,111 shares of the industrial products company’s stock worth $1,784,000 after buying an additional 1,280 shares during the period. Finally, US Bancorp DE increased its position in shares of Columbus McKinnon by 6.0% during the fourth quarter. US Bancorp DE now owns 26,481 shares of the industrial products company’s stock worth $1,058,000 after buying an additional 1,493 shares during the period. Hedge funds and other institutional investors own 84.63% of the company’s stock.
Shares of Columbus McKinnon (CMCO) traded up $0.39 during trading on Tuesday, hitting $35.60. 149,470 shares of the stock were exchanged, compared to its average volume of 199,738. Columbus McKinnon has a 12 month low of $23.12 and a 12 month high of $44.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.81. The company has a market cap of $819.58, a P/E ratio of 96.22 and a beta of 1.78.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.13. The business had revenue of $208.73 million during the quarter, compared to analysts’ expectations of $201.08 million. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. equities analysts predict that Columbus McKinnon will post 2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Thursday, February 8th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 43.24%.
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Columbus McKinnon Company Profile
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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