Columbus McKinnon (NASDAQ:CMCO) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.61 and traded as high as $19.41. Columbus McKinnon shares last traded at $19.39, with a volume of 318,718 shares.

Analyst Ratings Changes

Several equities research analysts have commented on CMCO shares. CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Columbus McKinnon Stock Up 6.0%

The firm has a market capitalization of $557.07 million, a PE ratio of 138.51 and a beta of 1.29. The firm’s 50-day moving average is $16.60 and its 200 day moving average is $15.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.81.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share for the quarter. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%. The firm had revenue of $166.55 million during the quarter. As a group, research analysts forecast that Columbus McKinnon Corporation will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, November 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Columbus McKinnon’s dividend payout ratio is presently 200.00%.

Hedge Funds Weigh In On Columbus McKinnon

Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP increased its position in Columbus McKinnon by 698.6% during the 3rd quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock worth $10,422,000 after purchasing an additional 635,770 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Columbus McKinnon during the third quarter worth about $8,040,000. Stanley Capital Management LLC acquired a new position in shares of Columbus McKinnon in the first quarter valued at approximately $8,888,000. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Columbus McKinnon by 100.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after buying an additional 415,275 shares during the period. Finally, Millennium Management LLC boosted its position in Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after acquiring an additional 379,096 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.