Columbus McKinnon (NASDAQ:CMCO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a research report released on Friday morning.

Separately, JPMorgan Chase & Co. started coverage on Columbus McKinnon in a report on Tuesday, June 4th. They set an overweight rating and a $53.00 target price on the stock.

Columbus McKinnon Stock Down 5.3 %

Columbus McKinnon stock opened at $33.73 on Friday. Columbus McKinnon has a 52 week low of $30.29 and a 52 week high of $45.84. The stock has a market cap of $974.12 million, a price-to-earnings ratio of 20.82 and a beta of 1.21. The company’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $39.99. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.52.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The firm had revenue of $239.73 million for the quarter, compared to analysts’ expectations of $241.25 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts expect that Columbus McKinnon will post 3.18 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, August 9th. Columbus McKinnon’s dividend payout ratio is presently 17.28%.

Insider Buying and Selling

In related news, Director Christopher J. Stephens purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average price of $38.71 per share, for a total transaction of $58,065.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $58,065. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in Columbus McKinnon during the 4th quarter valued at $987,000. Foundry Partners LLC raised its position in Columbus McKinnon by 23.9% during the first quarter. Foundry Partners LLC now owns 121,625 shares of the industrial products company’s stock valued at $5,428,000 after buying an additional 23,460 shares during the period. First Eagle Investment Management LLC boosted its position in Columbus McKinnon by 11.7% during the 1st quarter. First Eagle Investment Management LLC now owns 184,281 shares of the industrial products company’s stock worth $8,224,000 after acquiring an additional 19,350 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Columbus McKinnon during the 1st quarter valued at about $3,791,000. Finally, Truist Financial Corp increased its holdings in shares of Columbus McKinnon by 2.2% in the 4th quarter. Truist Financial Corp now owns 66,726 shares of the industrial products company’s stock valued at $2,604,000 after purchasing an additional 1,424 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.