Columbus McKinnon Corp. (NASDAQ:CMCO) CEO Mark D. Morelli sold 2,298 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $37.01, for a total value of $85,048.98. Following the sale, the chief executive officer now owns 17,111 shares of the company’s stock, valued at approximately $633,278.11. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of CMCO stock opened at $36.24 on Friday. The firm has a market capitalization of $878.08 million, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.76 and a quick ratio of 1.10. The business has a fifty day moving average of $37.79 and a 200 day moving average of $37.41. Columbus McKinnon Corp. has a 1 year low of $30.76 and a 1 year high of $43.09.
Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The company had revenue of $199.36 million during the quarter, compared to analyst estimates of $201.24 million. Columbus McKinnon had a return on equity of 15.06% and a net margin of 8.39%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. As a group, equities research analysts expect that Columbus McKinnon Corp. will post 2.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be paid a $0.06 dividend. The ex-dividend date is Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 0.66%. Columbus McKinnon’s dividend payout ratio (DPR) is 8.76%.
Several analysts have recently commented on the company. BidaskClub lowered Columbus McKinnon from a “sell” rating to a “strong sell” rating in a report on Saturday, February 1st. Zacks Investment Research lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Barrington Research assumed coverage on Columbus McKinnon in a report on Tuesday, December 17th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Dougherty & Co reiterated a “buy” rating on shares of Columbus McKinnon in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.00.
A number of hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. raised its stake in Columbus McKinnon by 11.6% in the 3rd quarter. First Mercantile Trust Co. now owns 3,278 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 340 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Columbus McKinnon by 59.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,557 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 580 shares during the last quarter. California State Teachers Retirement System raised its stake in Columbus McKinnon by 2.4% in the 3rd quarter. California State Teachers Retirement System now owns 35,911 shares of the industrial products company’s stock worth $1,308,000 after acquiring an additional 830 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Columbus McKinnon in the 4th quarter worth $38,000. Finally, Emerald Advisers LLC purchased a new position in Columbus McKinnon in the 4th quarter worth $44,000. Institutional investors own 99.02% of the company’s stock.
About Columbus McKinnon
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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