Columbus McKinnon (NASDAQ:CMCO) Given “Neutral” Rating at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Columbus McKinnon (NASDAQ:CMCO) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has a $35.00 target price on the industrial products company’s stock.

Separately, StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $20.08 on Tuesday. The company’s 50 day moving average price is $33.91 and its two-hundred day moving average price is $34.37. Columbus McKinnon has a 12-month low of $19.55 and a 12-month high of $45.84. The firm has a market cap of $574.49 million, a PE ratio of 60.85 and a beta of 1.22. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. Equities research analysts predict that Columbus McKinnon will post 2.96 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.39%. Columbus McKinnon’s dividend payout ratio is 84.85%.

Insider Buying and Selling

In related news, Director Christopher J. Stephens acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $20.27 per share, with a total value of $101,350.00. Following the purchase, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Columbus McKinnon by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after purchasing an additional 19,550 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Columbus McKinnon by 13.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock valued at $57,646,000 after purchasing an additional 184,615 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after purchasing an additional 74,831 shares during the last quarter. Systematic Financial Management LP lifted its stake in Columbus McKinnon by 6.0% in the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock valued at $30,875,000 after purchasing an additional 46,806 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after purchasing an additional 398,826 shares during the last quarter. Institutional investors own 95.96% 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.