Columbus McKinnon (NASDAQ:CMCO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a strong sell rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. DA Davidson set a $20.00 price objective on shares of Columbus McKinnon in a research note on Thursday, February 12th. Finally, Wall Street Zen lowered shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Columbus McKinnon presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $16.11 on Monday. The company has a fifty day moving average of $17.23 and a 200-day moving average of $17.14. 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 quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a twelve month low of $12.50 and a twelve month high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $258.66 million during the quarter, compared to analyst estimates of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. Columbus McKinnon’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. As a group, sell-side analysts anticipate that Columbus McKinnon will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

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

Insider Buying and Selling

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total transaction of $120,706.80. Following the completion of the sale, the insider owned 9,366 shares in the company, valued at approximately $218,040.48. The trade was a 35.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.26% of the company’s stock.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Columbus McKinnon by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock valued at $26,873,000 after purchasing an additional 62,267 shares in the last quarter. Invesco Ltd. grew its stake in shares of Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock worth $25,135,000 after acquiring an additional 5,210 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Columbus McKinnon by 76.8% in the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after acquiring an additional 481,470 shares in the last quarter. Millennium Management LLC grew its stake in shares of Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after acquiring an additional 379,096 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Columbus McKinnon by 100.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock worth $11,900,000 after acquiring an additional 415,275 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

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.