Columbus McKinnon Co. (NASDAQ:CMCO) Declares Quarterly Dividend of $0.07

Columbus McKinnon Co. (NASDAQ:CMCO) declared a quarterly dividend on Sunday, October 20th, RTT News reports. Investors of record on Friday, November 8th will be paid a dividend of 0.07 per share by the industrial products company on Monday, November 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 8th.

Columbus McKinnon has increased its dividend by an average of 5.3% per year over the last three years. Columbus McKinnon has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.3%.

Columbus McKinnon Stock Up 7.0 %

Shares of Columbus McKinnon stock opened at $33.63 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. Columbus McKinnon has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a market cap of $964.84 million, a P/E ratio of 63.45 and a beta of 1.19. The company’s fifty day simple moving average is $33.18 and its two-hundred day simple moving average is $36.14.

Analysts Set New Price Targets

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In related news, CEO David J. Wilson acquired 31,300 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the purchase, the chief executive officer now owns 31,300 shares of the company’s stock, valued at $1,002,226. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

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.