Columbus McKinnon (NASDAQ:CMCO) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. upped 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. Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, DA Davidson reduced their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.00.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $15.98 on Tuesday. The company has a market cap of $461.18 million, a price-to-earnings ratio of -2.14 and a beta of 1.43. The business’s fifty day simple moving average is $17.76 and its two-hundred day simple moving average is $15.84. Columbus McKinnon has a 12 month low of $11.99 and a 12 month high of $24.40. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95.

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

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Columbus McKinnon’s dividend payout ratio (DPR) is -3.75%.

Insider Transactions at Columbus McKinnon

In other news, Director Christopher J. Stephens bought 2,750 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the purchase, the director owned 22,317 shares in the company, valued at approximately $382,513.38. The trade was a 14.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Linker purchased 7,500 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the acquisition, the executive vice president directly owned 7,500 shares of the company’s stock, valued at approximately $147,525. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.09% of the stock is owned by insiders.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently modified their holdings of CMCO. Public Employees Retirement System of Ohio purchased a new position in shares of Columbus McKinnon in the second quarter worth $25,000. Integrated Wealth Concepts LLC purchased a new position in Columbus McKinnon during the second quarter valued at $29,000. Legal & General Group Plc purchased a new position in Columbus McKinnon during the second quarter valued at $44,000. State of Wyoming bought a new stake in Columbus McKinnon in the 2nd quarter valued at $66,000. Finally, Strs Ohio lifted its stake in Columbus McKinnon by 88.9% in the 1st quarter. Strs Ohio now owns 17,000 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 8,000 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and supplier of intelligent motion solutions used to move, lift, position and secure materials. The company serves industrial, commercial and infrastructure customers with equipment and systems intended to improve material handling, workplace safety and operational efficiency.

Its product portfolio includes electric and manual hoists, cranes and crane components, rigging equipment, actuators, motion-control systems, automated lifting solutions and related software and services.