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

Columbus McKinnon Corporation (NASDAQ:CMCO) EVP John Linker purchased 7,500 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $19.67 per share, with a total value of $147,525.00. Following the completion of the purchase, the executive vice president owned 7,500 shares of the company’s stock, valued at $147,525. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Columbus McKinnon Stock Up 6.1%

NASDAQ CMCO traded up $1.23 during trading on Tuesday, hitting $21.35. The company’s stock had a trading volume of 129,188 shares, compared to its average volume of 529,938. Columbus McKinnon Corporation has a fifty-two week low of $11.99 and a fifty-two week high of $24.40. The company has a market cap of $615.58 million, a PE ratio of -2.87 and a beta of 1.37. 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 business’s 50 day simple moving average is $14.76 and its 200-day simple moving average is $16.37.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.34. The firm had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The company’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities analysts anticipate that Columbus McKinnon Corporation will post 2 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Trading of Columbus McKinnon

A number of hedge funds have recently added to or reduced their stakes in CMCO. EverSource Wealth Advisors LLC increased its holdings in Columbus McKinnon by 48.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after buying an additional 565 shares in the last quarter. Group One Trading LLC grew its position in shares of Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Columbus McKinnon by 66.7% during the 3rd 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. Tower Research Capital LLC TRC increased its stake in shares of Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Columbus McKinnon by 41.4% in the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 918 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.