Columbus McKinnon Co. (NASDAQ:CMCO) Declares Quarterly Dividend of $0.07

Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) announced a quarterly dividend on Monday, January 23rd, Zacks reports. Stockholders of record on Friday, February 10th will be paid a dividend of 0.07 per share by the industrial products company on Tuesday, February 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, February 9th.

Columbus McKinnon has raised its dividend payment by an average of 5.5% annually over the last three years and has increased its dividend every year for the last 1 years. Columbus McKinnon has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbus McKinnon to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.4%.

Columbus McKinnon Trading Down 1.2 %

Columbus McKinnon stock traded down $0.43 during trading hours on Wednesday, reaching $34.37. The company had a trading volume of 2,823 shares, compared to its average volume of 98,539. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.07 and a quick ratio of 1.20. Columbus McKinnon has a 12-month low of $23.54 and a 12-month high of $48.78. The firm has a market cap of $984.01 million, a price-to-earnings ratio of 22.75 and a beta of 1.25. The company has a 50-day moving average price of $32.75 and a 200 day moving average price of $30.63.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Columbus McKinnon had a return on equity of 10.53% and a net margin of 4.80%. The firm had revenue of $231.74 million during the quarter, compared to analysts’ expectations of $235.71 million. Equities analysts forecast that Columbus McKinnon will post 2.83 earnings per share for the current year.

Institutional Trading of Columbus McKinnon

Several hedge funds and other institutional investors have recently bought and sold shares of CMCO. Millennium Management LLC purchased a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $4,663,000. Renaissance Technologies LLC raised its stake in shares of Columbus McKinnon by 734.1% during the 2nd quarter. Renaissance Technologies LLC now owns 114,985 shares of the industrial products company’s stock valued at $3,262,000 after buying an additional 101,200 shares during the last quarter. BlackRock Inc. raised its stake in shares of Columbus McKinnon by 2.6% during the 3rd quarter. BlackRock Inc. now owns 2,223,266 shares of the industrial products company’s stock valued at $58,159,000 after buying an additional 55,329 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Columbus McKinnon by 70.1% in the 2nd quarter. Citadel Advisors LLC now owns 133,588 shares of the industrial products company’s stock valued at $3,790,000 after purchasing an additional 55,045 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Columbus McKinnon by 15.8% in the 1st quarter. Bank of America Corp DE now owns 385,161 shares of the industrial products company’s stock valued at $16,331,000 after purchasing an additional 52,465 shares in the last quarter. Institutional investors own 96.01% of the company’s stock.

Analyst Upgrades and Downgrades

CMCO has been the subject of a number of analyst reports. DA Davidson reduced their price target on Columbus McKinnon from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. StockNews.com raised Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Monday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Columbus McKinnon Company Profile

(Get Rating)

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.