Columbus McKinnon Corp. VP Sells $59,375 in Stock (CMCO)
Columbus McKinnon Corp. (NASDAQ:CMCO) VP Gene P. Buer sold 2,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $23.75, for a total value of $59,375.00. Following the completion of the sale, the vice president now directly owns 955 shares of the company’s stock, valued at approximately $22,681. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on CMCO. Analysts at CJS Securities upgraded shares of Columbus McKinnon Corp. from a “market perform” rating to a “market outperform” rating in a research note on Thursday, July 31st. They now have a $34.00 price target on the stock, down previously from $35.00. Separately, analysts at Zacks downgraded shares of Columbus McKinnon Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 22nd. They now have a $32.80 price target on the stock. Finally, analysts at Global Hunter Securities initiated coverage on shares of Columbus McKinnon Corp. in a research note on Thursday, June 19th. They set a “neutral” rating and a $27.00 price target on the stock.
Columbus McKinnon Corp. (NASDAQ:CMCO) traded up 0.29% on Thursday, hitting $24.13. 50,407 shares of the company’s stock traded hands. Columbus McKinnon Corp. has a 52 week low of $21.25 and a 52 week high of $30.98. The stock’s 50-day moving average is $26.60 and its 200-day moving average is $26.61. The company has a market cap of $479.0 million and a P/E ratio of 15.94.
Columbus McKinnon Corp. (NASDAQ:CMCO) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.07. The company had revenue of $142.90 million for the quarter, compared to the consensus estimate of $150.10 million. During the same quarter last year, the company posted $0.35 earnings per share. Columbus McKinnon Corp.’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Columbus McKinnon Corp. will post $1.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 18th. Investors of record on Friday, August 8th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, August 6th.
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, rigging tools, cranes, actuators, and other material handling products serving a range of commercial and industrial end user markets.
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