Columbus McKinnon (NASDAQ:CMCO) Sets New 12-Month Low – Should You Sell?

Columbus McKinnon Co. (NASDAQ:CMCO) reached a new 52-week low on Friday . The company traded as low as $19.49 and last traded at $19.30, with a volume of 163133 shares. The stock had previously closed at $20.08.

Analyst Ratings Changes

CMCO has been the subject of a number of recent analyst reports. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. DA Davidson reiterated a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday.

Columbus McKinnon Stock Performance

The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $33.91 and a 200 day moving average price of $34.37. The firm has a market capitalization of $543.30 million, a PE ratio of 57.36 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. Research analysts expect that Columbus McKinnon Co. will post 2.96 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 84.85%.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the purchase, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. The trade was a 83.14 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is owned by insiders.

Institutional Trading of Columbus McKinnon

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Columbus McKinnon by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock worth $60,034,000 after purchasing an additional 19,550 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Columbus McKinnon by 13.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock worth $57,646,000 after buying an additional 184,615 shares during the period. Lord Abbett & CO. LLC raised its holdings in Columbus McKinnon by 8.1% in the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after acquiring an additional 74,831 shares in the last quarter. Systematic Financial Management LP lifted its stake in Columbus McKinnon by 6.0% in the fourth quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock worth $30,875,000 after acquiring an additional 46,806 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Columbus McKinnon by 117.8% in the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after acquiring an additional 398,826 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.