John Linker Acquires 7,500 Shares of Columbus McKinnon (NASDAQ:CMCO) Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) EVP John Linker acquired 7,500 shares of Columbus McKinnon stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $19.67 per share, with a total value of $147,525.00. Following the completion of the transaction, the executive vice president owned 7,500 shares of the company’s stock, valued at approximately $147,525. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Columbus McKinnon Stock Down 0.4%

CMCO opened at $21.50 on Thursday. Columbus McKinnon Corporation has a 12 month low of $11.99 and a 12 month high of $24.40. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The stock has a market cap of $620.49 million, a P/E ratio of -2.88 and a beta of 1.37. The stock’s 50 day moving average price is $14.98 and its 200 day moving average price is $16.38.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The company had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm’s quarterly revenue was up 125.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, research analysts predict that Columbus McKinnon Corporation will post 2 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 7th. Columbus McKinnon’s dividend payout ratio is currently -3.75%.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Columbus McKinnon by 48.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 565 shares during the last quarter. Group One Trading LLC grew its position in Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Columbus McKinnon by 267.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 918 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. DA Davidson reduced their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, June 15th. Zacks Research cut Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings cut Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Columbus McKinnon presently has a consensus rating of “Hold” and an average target price of $23.00.

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.