Columbus McKinnon (NASDAQ:CMCO) Issues Quarterly Earnings Results

Columbus McKinnon (NASDAQ:CMCO) announced its earnings results on Monday. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18), Zacks reports. Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%.

Columbus McKinnon Stock Up 3.6 %

CMCO opened at $35.48 on Tuesday. Columbus McKinnon has a one year low of $29.26 and a one year high of $45.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. The stock’s fifty day moving average is $37.01 and its 200-day moving average is $35.31. The company has a market capitalization of $1.02 billion, a PE ratio of 66.94 and a beta of 1.22.

Columbus McKinnon Announces Dividend

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 paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.79%. 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 brokerages have weighed in on CMCO. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson downgraded Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Tuesday.

Insider Transactions at Columbus McKinnon

In other news, Director Christopher J. Stephens bought 1,000 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the purchase, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

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.