Shares of Columbus McKinnon Corp. (NASDAQ:CMCO) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $47.33.
A number of analysts have issued reports on CMCO shares. TheStreet lowered Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Zacks Investment Research downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, March 9th. 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 raised their price objective on Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 15th. Finally, BidaskClub downgraded Columbus McKinnon from a “hold” rating to a “sell” rating in a report on Friday, January 19th.
Shares of Columbus McKinnon (NASDAQ CMCO) traded up $0.42 during trading hours on Friday, reaching $36.95. The company’s stock had a trading volume of 161,535 shares, compared to its average volume of 182,395. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. Columbus McKinnon has a 12-month low of $23.13 and a 12-month high of $44.55. The firm has a market cap of $846.04, a price-to-earnings ratio of 99.49 and a beta of 1.85.
Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.13. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The firm had revenue of $208.73 million for the quarter, compared to analyst estimates of $201.08 million. During the same period last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. equities analysts predict that Columbus McKinnon will post 2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. Columbus McKinnon’s dividend payout ratio (DPR) is 43.24%.
In other news, VP Alan S. Korman sold 1,724 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $36.00, for a total value of $62,064.00. Following the transaction, the vice president now directly owns 16,593 shares in the company, valued at approximately $597,348. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Alan S. Korman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $74,780.00. The disclosure for this sale can be found here. Company insiders own 3.91% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CMCO. Howe & Rusling Inc. purchased a new stake in shares of Columbus McKinnon during the 4th quarter valued at about $114,000. SG Americas Securities LLC purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $141,000. Globeflex Capital L P purchased a new stake in shares of Columbus McKinnon during the 4th quarter valued at about $149,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $202,000. Finally, Trexquant Investment LP purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $212,000. Institutional investors own 86.17% of the company’s stock.
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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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