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.
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
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.
- Get a free copy of the StockNews.com research report on Columbus McKinnon (CMCO)
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