Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $34.50.

CMCO has been the topic of several recent research reports. TheStreet cut Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded Columbus McKinnon Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub cut Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. Roth Capital initiated coverage on Columbus McKinnon Corporation in a research report on Friday, July 28th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, ValuEngine cut Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.

In other Columbus McKinnon Corporation news, VP Gene P. Buer sold 10,669 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $31.66, for a total transaction of $337,780.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alan S. Korman sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $32.93, for a total value of $82,325.00. Following the transaction, the vice president now owns 13,121 shares in the company, valued at approximately $432,074.53. The disclosure for this sale can be found here. Insiders have sold a total of 167,932 shares of company stock worth $5,416,512 in the last quarter. 3.91% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new position in Columbus McKinnon Corporation during the 1st quarter worth approximately $6,443,000. Dimensional Fund Advisors LP increased its position in Columbus McKinnon Corporation by 13.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,264,809 shares of the industrial products company’s stock worth $31,393,000 after purchasing an additional 152,165 shares during the period. Oxford Asset Management acquired a new position in Columbus McKinnon Corporation during the 1st quarter worth approximately $903,000. American International Group Inc. increased its position in Columbus McKinnon Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 795 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Columbus McKinnon Corporation by 3.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 120,928 shares of the industrial products company’s stock worth $3,002,000 after purchasing an additional 4,104 shares during the period. Institutional investors own 86.37% of the company’s stock.

Shares of Columbus McKinnon Corporation (CMCO) opened at 33.12 on Friday. Columbus McKinnon Corporation has a 12-month low of $16.86 and a 12-month high of $34.05. The firm has a market capitalization of $749.34 million, a price-to-earnings ratio of 50.18 and a beta of 1.87. The company’s 50-day moving average price is $31.74 and its 200 day moving average price is $27.15.

Columbus McKinnon Corporation (NASDAQ:CMCO) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.23. The business had revenue of $203.70 million during the quarter, compared to the consensus estimate of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. On average, equities research analysts forecast that Columbus McKinnon Corporation will post $1.90 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, August 9th. Columbus McKinnon Corporation’s payout ratio is 25.00%.

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Columbus McKinnon Corporation Company Profile

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