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

Columbus McKinnon Co. (NASDAQ:CMCO) declared a quarterly dividend on Monday, October 21st, RTT News reports. Investors of record on Friday, November 8th will be given 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 yield of 0.82%.

Columbus McKinnon has increased its dividend by an average of 5.3% per year over the last three years. Columbus McKinnon has a dividend payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $3.41 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 8.2%.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $34.24 on Monday. The company has a 50-day moving average of $33.27 and a 200-day moving average of $36.89. The firm has a market cap of $988.13 million, a price-to-earnings ratio of 21.22 and a beta of 1.17. 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 has a twelve month low of $29.26 and a twelve month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The firm had revenue of $239.73 million during the quarter, compared to analysts’ expectations of $241.25 million. During the same period last year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts forecast that Columbus McKinnon will post 3.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.