Columbus McKinnon Co. (CMCO) to Issue Quarterly Dividend of $0.07 on May 12th

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Monday, March 24th, RTT News reports. Shareholders of record on Friday, May 2nd will be paid a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, May 2nd.

Columbus McKinnon has raised its dividend payment by an average of 5.3% per year over the last three years. Columbus McKinnon has a payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbus McKinnon to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.5%.

Columbus McKinnon Stock Down 1.1 %

CMCO stock opened at $18.58 on Wednesday. The business has a 50 day moving average of $25.19 and a 200 day moving average of $31.94. The firm has a market cap of $531.63 million, a PE ratio of 56.30 and a beta of 1.31. Columbus McKinnon has a twelve month low of $15.48 and a twelve month high of $45.84. 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 issued 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 net margin of 0.95% and a return on equity of 8.64%. On average, research analysts forecast that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Columbus McKinnon news, Director Chad R. Abraham acquired 20,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn V. Bohl bought 2,819 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares in the company, valued at $266,467.88. This trade represents a 23.51 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 27,819 shares of company stock valued at $473,064. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMCO. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. DA Davidson restated a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

About Columbus McKinnon

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.