Christopher Stephens Acquires 2,750 Shares of Columbus McKinnon (NASDAQ:CMCO) Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) Director Christopher Stephens purchased 2,750 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the purchase, the director directly owned 22,317 shares of the company’s stock, valued at $382,513.38. This trade represents a 14.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $17.62 on Friday. The business’s 50-day simple moving average is $16.11 and its 200 day simple moving average is $16.25. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. The stock has a market cap of $508.58 million, a price-to-earnings ratio of -2.36 and a beta of 1.37. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. During the same period in the previous year, the business posted $0.50 EPS. The company’s quarterly revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, research analysts anticipate that Columbus McKinnon Corporation will post 2.05 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. Columbus McKinnon’s payout ratio is presently -3.75%.

Hedge Funds Weigh In On Columbus McKinnon

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its holdings 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 worth $30,000 after acquiring an additional 565 shares in the last quarter. Group One Trading LLC lifted its holdings in Columbus McKinnon by 266.7% during the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in 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 acquiring an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 1,893 shares during the period. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CMCO has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings lowered Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Wall Street Zen cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, DA Davidson lowered their price target on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.00.

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.