Columbus McKinnon (NASDAQ:CMCO) Reaches New 12-Month Low After Earnings Miss

Columbus McKinnon Co. (NASDAQ:CMCO) hit a new 52-week low during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $22.35 and last traded at $21.22, with a volume of 288987 shares. The stock had previously closed at $35.48.

The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

Several research analysts have recently commented on CMCO shares. DA Davidson lowered shares of Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Tuesday. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insider Activity at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $37.34 per share, with a total value of $37,340.00. Following the completion of the acquisition, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This represents a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently modified their holdings of CMCO. Teacher Retirement System of Texas purchased a new position in Columbus McKinnon in the 4th quarter worth about $1,674,000. Intech Investment Management LLC increased its position in shares of Columbus McKinnon by 72.7% in the fourth quarter. Intech Investment Management LLC now owns 12,666 shares of the industrial products company’s stock worth $472,000 after acquiring an additional 5,333 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Columbus McKinnon by 736.8% during the fourth quarter. Natixis Advisors LLC now owns 163,397 shares of the industrial products company’s stock valued at $6,085,000 after acquiring an additional 143,871 shares during the period. Isthmus Partners LLC lifted its position in shares of Columbus McKinnon by 0.5% in the 4th quarter. Isthmus Partners LLC now owns 69,246 shares of the industrial products company’s stock valued at $2,579,000 after acquiring an additional 378 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Columbus McKinnon by 12.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 806 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

The firm’s 50-day simple moving average is $37.01 and its two-hundred day simple moving average is $35.31. The stock has a market capitalization of $589.58 million, a PE ratio of 39.04 and a beta of 1.22. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Columbus McKinnon Company Profile

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.