Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Average Rating of “Moderate Buy” from Analysts

Columbus McKinnon Corporation (NASDAQ:CMCO) has received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.50.

Several equities analysts have recently commented on CMCO shares. Wall Street Zen downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Columbus McKinnon in a research note on Tuesday, April 14th. Zacks Research raised shares of Columbus McKinnon from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, April 13th. DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th.

Insider Transactions at Columbus McKinnon

In other news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the transaction, the insider owned 9,366 shares of the company’s stock, valued at approximately $218,040.48. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Columbus McKinnon by 32.4% in the first quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock valued at $2,091,000 after acquiring an additional 30,255 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 10,780 shares during the period. Russell Investments Group Ltd. raised its stake in shares of 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 acquiring an additional 16,358 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Columbus McKinnon in the second quarter valued at $1,658,000. Finally, Marshall Wace LLP purchased a new stake in shares of Columbus McKinnon in the second quarter valued at $1,390,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

CMCO stock opened at $15.93 on Monday. Columbus McKinnon has a one year low of $13.31 and a one year high of $24.40. The company’s fifty day moving average price is $15.69 and its 200-day moving average price is $17.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. The company has a market capitalization of $457.81 million, a PE ratio of 75.86 and a beta of 1.39.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 9th. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The firm had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Columbus McKinnon will post 1.89 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Friday, May 1st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Columbus McKinnon’s dividend payout ratio is presently 133.33%.

Columbus McKinnon Company Profile

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.