Columbus McKinnon Corp. (CMCO) Given Consensus Recommendation of “Hold” by Analysts

Shares of Columbus McKinnon Corp. (NASDAQ:CMCO) have earned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $50.00.

Several research firms have recently issued reports on CMCO. BidaskClub lowered shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 8th. Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Monday. TheStreet lowered shares of Columbus McKinnon from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Seaport Global Securities reissued a “buy” rating and issued a $50.00 price objective on shares of Columbus McKinnon in a research report on Wednesday, January 10th.

In other news, VP Alan S. Korman sold 1,558 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $40.10, for a total value of $62,475.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark R. Paradowski sold 3,906 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. Insiders sold 6,225 shares of company stock valued at $247,918 over the last 90 days. Insiders own 3.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in CMCO. Macquarie Group Ltd. boosted its stake in Columbus McKinnon by 14.6% during the 3rd quarter. Macquarie Group Ltd. now owns 974,628 shares of the industrial products company’s stock valued at $36,909,000 after acquiring an additional 124,442 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Columbus McKinnon by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,373,168 shares of the industrial products company’s stock valued at $34,906,000 after acquiring an additional 108,359 shares during the last quarter. Skylands Capital LLC bought a new position in Columbus McKinnon during the 3rd quarter valued at $3,492,000. JPMorgan Chase & Co. boosted its stake in Columbus McKinnon by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 224,919 shares of the industrial products company’s stock valued at $8,448,000 after acquiring an additional 50,970 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Columbus McKinnon by 171.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 67,738 shares of the industrial products company’s stock valued at $1,722,000 after acquiring an additional 42,803 shares during the last quarter. Institutional investors and hedge funds own 84.63% of the company’s stock.

Shares of Columbus McKinnon (NASDAQ CMCO) opened at $35.07 on Tuesday. Columbus McKinnon has a 52-week low of $23.13 and a 52-week high of $44.55. The stock has a market cap of $819.34, a price-to-earnings ratio of 94.78 and a beta of 1.78. 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 (NASDAQ:CMCO) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $208.73 million during the quarter, compared to analyst estimates of $201.08 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. research analysts forecast that Columbus McKinnon will post 2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 43.24%.

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About Columbus McKinnon

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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