Columbus McKinnon (NASDAQ:CMCO) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a report issued on Tuesday.

Columbus McKinnon Price Performance

NASDAQ:CMCO opened at $20.87 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The company has a 50 day moving average price of $36.65 and a 200-day moving average price of $35.18. Columbus McKinnon has a 1-year low of $19.61 and a 1-year high of $45.84. The firm has a market cap of $598.76 million, a price-to-earnings ratio of 39.38 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. Equities research analysts forecast that Columbus McKinnon will post 2.98 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, February 7th. Columbus McKinnon’s payout ratio is currently 52.83%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens bought 1,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the transaction, the director now directly owns 6,014 shares in the company, valued at $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mascoma Wealth Management LLC acquired a new position in shares of Columbus McKinnon during the third quarter valued at approximately $25,000. Palouse Capital Management Inc. purchased a new stake in shares of Columbus McKinnon during the third quarter worth approximately $144,000. Millburn Ridgefield Corp acquired a new position in Columbus McKinnon in the 3rd quarter valued at $155,000. Park Avenue Securities LLC purchased a new position in Columbus McKinnon in the 4th quarter valued at $239,000. Finally, SG Americas Securities LLC acquired a new stake in Columbus McKinnon during the 3rd quarter worth $244,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.