Columbus McKinnon’s (CMCO) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reiterated their neutral rating on shares of Columbus McKinnon (NASDAQ:CMCO) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $15.00 price objective on the industrial products company’s stock.

A number of other brokerages have also commented on CMCO. Wall Street Zen lowered shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Columbus McKinnon currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Columbus McKinnon Stock Down 8.9%

Columbus McKinnon stock opened at $21.19 on Tuesday. Columbus McKinnon has a 12 month low of $11.78 and a 12 month high of $24.40. The stock has a fifty day simple moving average of $19.43 and a two-hundred day simple moving average of $16.60. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm has a market cap of $609.00 million, a price-to-earnings ratio of 100.90 and a beta of 1.33.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The company had revenue of $258.66 million for the quarter, compared to analysts’ expectations of $241.60 million. During the same period last year, the firm posted $0.56 earnings per share. Columbus McKinnon’s revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, February 13th. Columbus McKinnon’s dividend payout ratio is presently 133.33%.

Insiders Place Their Bets

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total value of $120,706.80. Following the completion of the sale, the insider owned 9,366 shares of the company’s stock, valued at $218,040.48. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Columbus McKinnon

Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP grew its position in Columbus McKinnon by 698.6% in the 3rd quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after acquiring an additional 635,770 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Columbus McKinnon during the third quarter valued at $8,040,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Columbus McKinnon by 100.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock worth $11,900,000 after purchasing an additional 415,275 shares during the last quarter. Millennium Management LLC increased its stake in Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after buying an additional 379,096 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in Columbus McKinnon during the 4th quarter valued at about $6,395,000. 95.96% of the stock is owned by institutional investors.

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.