Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have earned a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $23.50.

Several brokerages recently issued reports on CMCO. Wall Street Zen lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 22nd. Zacks Research cut Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Columbus McKinnon in a report on Tuesday, April 14th. DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in Columbus McKinnon by 32.4% during the first quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock worth $2,091,000 after purchasing an additional 30,255 shares during the period. Goldman Sachs Group Inc. lifted its stake in Columbus McKinnon by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company’s stock valued at $3,739,000 after buying an additional 10,780 shares during the period. Russell Investments Group Ltd. lifted its stake in Columbus McKinnon by 1,222.6% in the second quarter. Russell Investments Group Ltd. now owns 17,696 shares of the industrial products company’s stock valued at $270,000 after buying an additional 16,358 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Columbus McKinnon during the 2nd quarter worth approximately $1,658,000. Finally, Marshall Wace LLP acquired a new stake in shares of Columbus McKinnon during the 2nd quarter worth approximately $1,390,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

CMCO stock opened at $16.11 on Friday. The company has a market capitalization of $463.00 million, a P/E ratio of 76.71 and a beta of 1.39. The company has a fifty day moving average price of $15.05 and a 200-day moving average price of $17.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. Columbus McKinnon has a 52-week low of $13.31 and a 52-week high of $24.40.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 1st. Columbus McKinnon’s dividend payout ratio (DPR) is presently 133.33%.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.