Columbus McKinnon Corporation (NASDAQ:CMCO) Receives $23.50 Average PT from Analysts

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $23.50.

CMCO has been the topic of a number of recent analyst reports. Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday. DA Davidson set a $20.00 target price on Columbus McKinnon in a research report on Thursday, February 12th. Zacks Research cut shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Finally, CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th.

Columbus McKinnon Stock Down 0.4%

Shares of CMCO stock opened at $19.10 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a 12 month low of $11.78 and a 12 month high of $24.40. The stock has a market cap of $548.93 million, a P/E ratio of 90.95 and a beta of 1.33. The company has a 50 day simple moving average of $19.69 and a two-hundred day simple moving average of $16.80.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The firm had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts expect that Columbus McKinnon will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Friday, February 13th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, February 13th. Columbus McKinnon’s payout ratio is presently 133.33%.

Insider Buying and Selling at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the sale, the insider owned 9,366 shares in the company, valued at approximately $218,040.48. This represents a 35.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP grew its position in Columbus McKinnon by 698.6% in the 3rd quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after acquiring an additional 635,770 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Columbus McKinnon in the third quarter valued at approximately $8,040,000. AQR Capital Management LLC increased its position in Columbus McKinnon by 76.8% during the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock valued at $19,121,000 after buying an additional 481,470 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Columbus McKinnon by 100.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after purchasing an additional 415,275 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock valued at $12,203,000 after buying an additional 379,096 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

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.