Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Rating of “Hold” by Brokerages

Columbus McKinnon Corporation (NASDAQ:CMCO) has received a consensus recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.50.

A number of brokerages recently commented on CMCO. DA Davidson set a $20.00 target price on Columbus McKinnon in a research report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Columbus McKinnon in a report on Tuesday, April 14th. Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. cut their target price on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMCO. EverSource Wealth Advisors LLC raised its holdings in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 565 shares during the last quarter. Group One Trading LLC boosted its stake in 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 purchasing an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in 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 worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Columbus McKinnon by 41.4% in the fourth 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 last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $16.11 on Friday. The firm’s 50-day moving average price is $15.05 and its 200-day moving average price is $17.15. Columbus McKinnon has a 1-year low of $13.31 and a 1-year high of $24.40. The firm has a market capitalization of $463.00 million, a P/E ratio of 76.71 and a beta of 1.39. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were issued a dividend of $0.07 per share. The ex-dividend date was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.7%. Columbus McKinnon’s dividend payout ratio is presently 133.33%.

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.