Columbus McKinnon (NASDAQ:CMCO) Issues Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Columbus McKinnon (NASDAQ:CMCO) released its earnings results on Monday. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18), Zacks reports. Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $35.48 on Tuesday. The company has a market cap of $1.02 billion, a P/E ratio of 66.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. Columbus McKinnon has a one year low of $29.26 and a one year high of $45.84. The business’s 50-day simple moving average is $37.01 and its 200 day simple moving average is $35.31.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 0.79%. Columbus McKinnon’s payout ratio is currently 52.83%.

Analyst Ratings Changes

CMCO has been the topic of several recent analyst reports. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson downgraded Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Tuesday.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens acquired 1,000 shares of the stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the purchase, the director now directly owns 6,014 shares in the company, valued at $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

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.