Columbus McKinnon Corporation (CMCO) To Go Ex-Dividend on November 6th

Columbus McKinnon Corporation (NASDAQ:CMCO) announced a quarterly dividend on Monday, October 26th. Shareholders of record on Friday, November 6th will be given a dividend of $0.07 per share by the industrial products company on Monday, November 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 6th.

Columbus McKinnon has a dividend payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 10.5%.

Columbus McKinnon Trading Up 15.2%

Shares of NASDAQ:CMCO opened at $18.15 on Wednesday. The company has a 50 day moving average of $16.27 and a 200-day moving average of $16.54. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The firm has a market cap of $523.81 million, a P/E ratio of -2.43 and a beta of 1.49. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. The business had revenue of $539.29 million for the quarter, compared to analyst estimates of $518.65 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business’s revenue for the quarter was up 106.6% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. As a group, analysts anticipate that Columbus McKinnon will post 2.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher Stephens bought 2,750 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the acquisition, the director owned 22,317 shares of the company’s stock, valued at approximately $382,513.38. This represents a 14.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Columbus McKinnon during the second quarter valued at about $37,183,000. Stanley Capital Management LLC acquired a new position in shares of Columbus McKinnon in the second quarter worth about $12,936,000. Heartland Advisors Inc. increased its position in shares of Columbus McKinnon by 16.6% in the first quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company’s stock worth $10,085,000 after acquiring an additional 98,950 shares in the last quarter. Van Den Berg Management I Inc. increased its position in shares of Columbus McKinnon by 11.8% in the second quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock worth $8,089,000 after acquiring an additional 56,282 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Columbus McKinnon by 232.5% in the first quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock worth $5,366,000 after acquiring an additional 258,238 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.