Columbus McKinnon Corp. (NASDAQ:CMCO) CEO Mark D. Morelli sold 20,382 shares of Columbus McKinnon stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $38.01, for a total value of $774,719.82. Following the transaction, the chief executive officer now owns 35,195 shares of the company’s stock, valued at approximately $1,337,761.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NASDAQ:CMCO opened at $36.98 on Friday. Columbus McKinnon Corp. has a 12-month low of $30.76 and a 12-month high of $43.09. The stock has a market cap of $899.15 million, a PE ratio of 12.62, a P/E/G ratio of 1.33 and a beta of 1.73. The business has a 50 day moving average of $38.23 and a 200-day moving average of $37.56. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.39.
Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. Columbus McKinnon had a return on equity of 15.06% and a net margin of 8.39%. The company had revenue of $199.36 million during the quarter, compared to analysts’ expectations of $201.24 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts expect that Columbus McKinnon Corp. will post 2.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. Columbus McKinnon’s payout ratio is 8.76%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Advisers LLC acquired a new stake in shares of Columbus McKinnon in the fourth quarter valued at approximately $44,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Columbus McKinnon in the fourth quarter valued at approximately $62,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Columbus McKinnon by 59.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,557 shares of the industrial products company’s stock valued at $57,000 after buying an additional 580 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Columbus McKinnon in the fourth quarter valued at approximately $80,000. Finally, First Mercantile Trust Co. raised its position in shares of Columbus McKinnon by 11.6% in the third quarter. First Mercantile Trust Co. now owns 3,278 shares of the industrial products company’s stock valued at $119,000 after buying an additional 340 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.
CMCO has been the subject of a number of research analyst reports. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Zacks Investment Research cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research initiated coverage on Columbus McKinnon in a report on Tuesday, December 17th. They set an “outperform” rating and a $50.00 price objective for the company. BidaskClub cut Columbus McKinnon from a “sell” rating to a “strong sell” rating in a report on Saturday, February 1st. Finally, Dougherty & Co restated a “buy” rating on shares of Columbus McKinnon in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $46.00.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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