Columbus McKinnon Co. (NASDAQ:CMCO) Director Acquires $50,713.81 in Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Kathryn V. Bohl purchased 2,819 shares of the stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the transaction, the director now owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. The trade was a 23.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Columbus McKinnon Trading Up 2.1 %

Shares of NASDAQ:CMCO traded up $0.39 during midday trading on Thursday, hitting $18.82. 364,240 shares of the stock were exchanged, compared to its average volume of 277,230. The stock has a market capitalization of $538.47 million, a price-to-earnings ratio of 56.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The business’s 50-day moving average price is $26.50 and its 200 day moving average price is $32.33. Columbus McKinnon Co. has a 12 month low of $15.48 and a 12 month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 10th. 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 return on equity of 8.64% and a net margin of 0.95%. Analysts predict that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 84.85%.

Institutional Trading of Columbus McKinnon

Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. Sterling Capital Management LLC increased its position in Columbus McKinnon by 810.0% during the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 810 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of Columbus McKinnon during the third quarter worth $155,000. Park Avenue Securities LLC bought a new position in Columbus McKinnon during the fourth quarter worth $239,000. Freestone Grove Partners LP acquired a new position in Columbus McKinnon in the fourth quarter valued at $242,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Columbus McKinnon during the fourth quarter valued at $250,000. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMCO. DA Davidson reiterated a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

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.