Columbus McKinnon (NASDAQ:CMCO) Shares Gap Up to $30.60

Columbus McKinnon Co. (NASDAQ:CMCO) gapped up prior to trading on Wednesday . The stock had previously closed at $30.60, but opened at $31.76. Columbus McKinnon shares last traded at $31.76, with a volume of 796 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated 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. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Columbus McKinnon Trading Down 0.4 %

The firm’s 50-day moving average price is $34.07 and its 200 day moving average price is $38.24. The company has a market cap of $913.10 million, a price-to-earnings ratio of 19.60 and a beta of 1.18. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $239.73 million for the quarter, compared to analyst estimates of $241.25 million. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. As a group, equities analysts expect that Columbus McKinnon Co. will post 3.02 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.07 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.28 annualized dividend and a yield of 0.88%. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Institutional Investors Weigh In On Columbus McKinnon

Several large investors have recently made changes to their positions in CMCO. Quarry LP purchased a new stake in Columbus McKinnon during the second quarter worth about $39,000. Innealta Capital LLC bought a new stake in shares of Columbus McKinnon in the 2nd quarter worth approximately $41,000. TFO Wealth Partners LLC lifted its stake in Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,344 shares during the last quarter. CWM LLC grew its holdings in Columbus McKinnon by 679.8% during the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,584 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Columbus McKinnon in the second quarter worth $73,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.