Columbus McKinnon (NASDAQ:CMCO) Hits New 1-Year Low After Earnings Miss

Columbus McKinnon Co. (NASDAQ:CMCO) shares reached a new 52-week low on Tuesday following a weaker than expected earnings announcement. The company traded as low as $22.35 and last traded at $21.22, with a volume of 288987 shares changing hands. The stock had previously closed at $35.48.

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 1.51% and a return on equity of 9.20%.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CMCO shares. DA Davidson lowered Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Tuesday. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday.

Insider Buying and Selling at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the acquisition, the director now owns 6,014 shares of the company’s stock, valued at $224,562.76. This trade represents a 19.94 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

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

Columbus McKinnon Stock Down 42.1 %

The firm has a fifty day moving average of $37.01 and a 200-day moving average of $35.31. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The firm has a market cap of $589.58 million, a P/E ratio of 39.04 and a beta of 1.22.

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.