Columbus McKinnon (NASDAQ:CMCO) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Columbus McKinnon Corporation (NASDAQ:CMCO)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.07 and traded as high as $18.90. Columbus McKinnon shares last traded at $18.79, with a volume of 492,324 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CMCO shares. Wall Street Zen cut shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research lowered Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. DA Davidson set a $20.00 price target on Columbus McKinnon in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Columbus McKinnon presently has an average rating of “Hold” and an average price target of $23.50.

Columbus McKinnon Stock Down 1.6%

The firm has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $17.07. The company has a market capitalization of $540.02 million, a PE ratio of 89.48 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. Equities research analysts anticipate that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Insider Activity

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

Institutional Trading of Columbus McKinnon

Several institutional investors and hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC bought a new position in shares of Columbus McKinnon during the third quarter valued at approximately $735,000. Savant Capital LLC acquired a new position in Columbus McKinnon during the 2nd quarter valued at approximately $320,000. Assenagon Asset Management S.A. bought a new position in Columbus McKinnon during the 3rd quarter worth $8,040,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Columbus McKinnon during the 2nd quarter worth $1,480,000. Finally, RBF Capital LLC increased its position in Columbus McKinnon by 241.8% in the second quarter. RBF Capital LLC now owns 137,200 shares of the industrial products company’s stock worth $2,095,000 after buying an additional 97,060 shares during the period. Institutional investors and hedge funds 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.