Columbus McKinnon (NASDAQ:CMCO) Director Acquires $47,135.00 in Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) Director Christopher Stephens purchased 2,750 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the acquisition, the director owned 22,317 shares in the company, 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 SEC, which is available through this hyperlink.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $17.62 on Monday. 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 debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The stock has a 50 day simple moving average of $16.11 and a two-hundred day simple moving average of $16.22. The stock has a market cap of $508.51 million, a P/E ratio of -2.36 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The firm had revenue of $531.46 million for 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 business’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, analysts forecast that Columbus McKinnon Corporation will post 2.05 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.6%. Columbus McKinnon’s payout ratio is -3.75%.

Hedge Funds Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP bought a new stake in shares of Columbus McKinnon during the 2nd quarter valued at $675,000. Van Den Berg Management I Inc. grew its position in shares of Columbus McKinnon by 11.8% in the 2nd quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock worth $8,089,000 after buying an additional 56,282 shares during the period. Hsbc Holdings PLC increased its stake in shares of Columbus McKinnon by 18.2% in the 2nd quarter. Hsbc Holdings PLC now owns 53,933 shares of the industrial products company’s stock worth $797,000 after acquiring an additional 8,292 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Columbus McKinnon in the 2nd quarter worth about $4,011,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Columbus McKinnon during the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

CMCO has been the subject of several research reports. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. DA Davidson cut their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Columbus McKinnon presently has a consensus 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.