Columbus McKinnon (NASDAQ:CMCO) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a strong-buy rating in a research note published on Thursday.

A number of other brokerages also recently weighed in on CMCO. TheStreet downgraded shares of Columbus McKinnon from a b- rating to a c+ rating in a report on Monday, September 11th. DA Davidson increased their price objective on shares of Columbus McKinnon from $44.00 to $48.00 in a research note on Thursday, August 3rd.

Columbus McKinnon Price Performance

Shares of Columbus McKinnon stock opened at $33.96 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.95 and a quick ratio of 1.17. Columbus McKinnon has a fifty-two week low of $27.90 and a fifty-two week high of $42.87. The firm has a fifty day moving average price of $34.49 and a two-hundred day moving average price of $37.04. The company has a market cap of $975.33 million, a PE ratio of 19.19 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Columbus McKinnon had a net margin of 5.22% and a return on equity of 10.06%. The firm had revenue of $258.40 million during the quarter, compared to the consensus estimate of $255.06 million. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 11.5% on a year-over-year basis. Analysts expect that Columbus McKinnon will post 2.82 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Friday, November 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, November 9th. Columbus McKinnon’s dividend payout ratio is 15.82%.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in shares of Columbus McKinnon by 4.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 22,834 shares of the industrial products company’s stock valued at $797,000 after buying an additional 881 shares in the last quarter. Cascade Investment Advisors Inc. acquired a new stake in shares of Columbus McKinnon during the 3rd quarter worth about $912,000. Carmel Capital Partners LLC acquired a new stake in shares of Columbus McKinnon during the 3rd quarter worth about $27,000. Skylands Capital LLC increased its position in shares of Columbus McKinnon by 5.9% during the 3rd quarter. Skylands Capital LLC now owns 235,489 shares of the industrial products company’s stock worth $8,221,000 after purchasing an additional 13,205 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Columbus McKinnon by 0.5% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 311,015 shares of the industrial products company’s stock worth $10,858,000 after purchasing an additional 1,422 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.