Craig Hallum assumed coverage on shares of Columbus McKinnon (NASDAQ:CMCO) in a report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $49.00 target price on the industrial products company’s stock.
Several other brokerages also recently issued reports on CMCO. Zacks Investment Research downgraded Columbus McKinnon from a buy rating to a hold rating in a research report on Friday, March 9th. TheStreet downgraded Columbus McKinnon from a b rating to a c+ rating in a research report on Tuesday, February 6th. Roth Capital lifted their price objective on Columbus McKinnon from $41.00 to $50.00 and gave the company a buy rating in a research report on Monday, January 15th. Finally, BidaskClub downgraded Columbus McKinnon from a hold rating to a sell rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $47.75.
Shares of Columbus McKinnon opened at $36.72 on Monday, according to Marketbeat.com. The company has a quick ratio of 1.06, a current ratio of 1.81 and a debt-to-equity ratio of 0.83. Columbus McKinnon has a 52-week low of $35.83 and a 52-week high of $35.99. The firm has a market capitalization of $815.65 million, a price-to-earnings ratio of 27.82 and a beta of 1.86.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Friday, May 4th were given a $0.05 dividend. This is an increase from Columbus McKinnon’s previous quarterly dividend of $0.04. The ex-dividend date was Thursday, May 3rd. This represents a $0.20 annualized dividend and a yield of 0.54%. Columbus McKinnon’s payout ratio is presently 15.15%.
In other news, VP Alan S. Korman sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $74,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alan S. Korman sold 1,724 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $36.00, for a total value of $62,064.00. Following the sale, the vice president now owns 16,593 shares of the company’s stock, valued at approximately $597,348. The disclosure for this sale can be found here. Insiders own 3.91% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CMCO. SG Americas Securities LLC bought a new stake in shares of Columbus McKinnon during the first quarter worth $109,000. Howe & Rusling Inc. bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $114,000. Globeflex Capital L P bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $149,000. Global X Management Co. LLC raised its position in shares of Columbus McKinnon by 139.9% during the first quarter. Global X Management Co. LLC now owns 6,800 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 3,965 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $281,000. Institutional investors own 87.19% of the company’s stock.
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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