Columbus McKinnon Co. (NASDAQ:CMCO) Announces $0.07 Quarterly Dividend

Columbus McKinnon Co. (NASDAQ:CMCO) declared a quarterly dividend on Monday, March 24th, RTT News reports. Investors of record on Friday, May 2nd will be given a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, May 2nd.

Columbus McKinnon has increased its dividend payment by an average of 5.3% annually over the last three years. Columbus McKinnon has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbus McKinnon to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.5%.

Columbus McKinnon Price Performance

CMCO stock opened at $18.58 on Wednesday. Columbus McKinnon has a 52 week low of $15.48 and a 52 week high of $45.84. The firm has a market capitalization of $531.63 million, a P/E ratio of 56.30 and a beta of 1.31. The company has a fifty day simple moving average of $25.19 and a two-hundred day simple moving average of $31.94. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 10th. 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 return on equity of 8.64% and a net margin of 0.95%. Analysts anticipate that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CMCO. DA Davidson reissued a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Buying and Selling at Columbus McKinnon

In other news, Director Chad R. Abraham acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $16.05 per share, with a total value of $321,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher J. Stephens acquired 5,000 shares of Columbus McKinnon stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the acquisition, the director now directly owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 27,819 shares of company stock valued at $473,064 in the last three months. 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.