Columbus McKinnon (NASDAQ:CMCO) Sets New 1-Year Low – Here’s Why

Shares of Columbus McKinnon Co. (NASDAQ:CMCO) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $19.49 and last traded at $19.30, with a volume of 163133 shares traded. The stock had previously closed at $20.08.

Analyst Ratings Changes

CMCO has been the subject of a number of analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Columbus McKinnon Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The stock has a market capitalization of $543.30 million, a PE ratio of 57.36 and a beta of 1.22. The stock’s 50 day moving average is $33.91 and its two-hundred day moving average is $34.37.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. On average, equities analysts anticipate that Columbus McKinnon Co. will post 2.96 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is 84.85%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the acquisition, the director now owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.98% of the company’s stock.

Institutional Trading of Columbus McKinnon

Hedge funds and other institutional investors have recently modified their holdings of the stock. Isthmus Partners LLC grew its holdings in shares of Columbus McKinnon by 0.5% in the fourth quarter. Isthmus Partners LLC now owns 69,246 shares of the industrial products company’s stock valued at $2,579,000 after purchasing an additional 378 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Columbus McKinnon by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 22,309 shares of the industrial products company’s stock valued at $831,000 after buying an additional 561 shares during the period. Cascade Investment Advisors Inc. grew its stake in shares of Columbus McKinnon by 1.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 33,110 shares of the industrial products company’s stock valued at $1,233,000 after buying an additional 590 shares during the period. Mascoma Wealth Management LLC acquired a new stake in shares of Columbus McKinnon during the 3rd quarter worth approximately $25,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock valued at $265,000 after buying an additional 806 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Company Profile

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.