Columbus McKinnon (NASDAQ:CMCO) Hits New 52-Week Low at $30.26

Columbus McKinnon Co. (NASDAQ:CMCO)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $30.26 and last traded at $30.26, with a volume of 1254 shares changing hands. The stock had previously closed at $30.36.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Columbus McKinnon in a research report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price objective on the stock. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Columbus McKinnon Stock Performance

The firm has a 50 day moving average price of $34.36 and a two-hundred day moving average price of $38.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07. The company has a market capitalization of $870.44 million, a P/E ratio of 18.74 and a beta of 1.18.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $239.73 million for the quarter, compared to analyst estimates of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, research analysts expect that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.28 annualized dividend and a dividend yield of 0.93%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 17.28%.

Hedge Funds Weigh In On Columbus McKinnon

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Columbus McKinnon by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,833 shares of the industrial products company’s stock valued at $13,963,000 after purchasing an additional 5,125 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Columbus McKinnon by 6.2% during the 4th quarter. Teacher Retirement System of Texas now owns 24,251 shares of the industrial products company’s stock worth $946,000 after acquiring an additional 1,417 shares during the period. BNP Paribas Financial Markets raised its position in shares of Columbus McKinnon by 26.5% in the fourth quarter. BNP Paribas Financial Markets now owns 15,940 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 3,342 shares during the period. Jump Financial LLC lifted its position in Columbus McKinnon by 82.4% during the fourth quarter. Jump Financial LLC now owns 17,700 shares of the industrial products company’s stock worth $691,000 after acquiring an additional 7,998 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Columbus McKinnon by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,842,229 shares of the industrial products company’s stock worth $71,885,000 after purchasing an additional 13,630 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.