Columbus McKinnon (NASDAQ:CMCO) VP Alan S. Korman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $37.39, for a total transaction of $74,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
CMCO stock traded down $0.80 during mid-day trading on Friday, hitting $34.59. 137,682 shares of the company were exchanged, compared to its average volume of 122,958. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.81 and a quick ratio of 1.06. Columbus McKinnon has a 12-month low of $23.19 and a 12-month high of $44.55. The firm has a market cap of $796.33, a PE ratio of 26.20 and a beta of 1.85.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.13. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The business had revenue of $208.73 million during the quarter, compared to analyst estimates of $201.08 million. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. sell-side analysts anticipate that Columbus McKinnon will post 2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Friday, May 4th will be paid a $0.05 dividend. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, May 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 12.12%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Columbus McKinnon by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,336 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 414 shares during the period. Susquehanna International Group LLP boosted its stake in shares of Columbus McKinnon by 2.8% in the third quarter. Susquehanna International Group LLP now owns 47,111 shares of the industrial products company’s stock valued at $1,784,000 after purchasing an additional 1,280 shares during the period. US Bancorp DE boosted its stake in shares of Columbus McKinnon by 6.0% in the fourth quarter. US Bancorp DE now owns 26,481 shares of the industrial products company’s stock valued at $1,058,000 after purchasing an additional 1,493 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Columbus McKinnon by 1.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 106,726 shares of the industrial products company’s stock valued at $4,267,000 after purchasing an additional 1,768 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Columbus McKinnon by 14.1% in the fourth quarter. American International Group Inc. now owns 14,840 shares of the industrial products company’s stock valued at $593,000 after purchasing an additional 1,836 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.
CMCO has been the subject of several research analyst reports. TheStreet lowered shares of Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Seaport Global Securities reaffirmed a “buy” rating and set a $50.00 target price on shares of Columbus McKinnon in a research note on Wednesday, January 10th. Roth Capital increased their target price on shares of Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 15th. Finally, BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.33.
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About Columbus McKinnon
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.
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