Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have earned an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat.com reports. Two investment 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 1-year price objective among brokers that have issued ratings on the stock in the last year is $23.50.

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

Insiders Place Their Bets

In other news, insider Jon Adams sold 5,185 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total value of $120,706.80. Following the completion of the transaction, the insider owned 9,366 shares of the company’s stock, valued at approximately $218,040.48. This represents a 35.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

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

Columbus McKinnon Trading Down 1.1%

Columbus McKinnon stock traded down $0.22 during trading hours on Wednesday, reaching $19.64. The stock had a trading volume of 129,901 shares, compared to its average volume of 460,773. The company has a fifty day simple moving average of $19.61 and a 200-day simple moving average of $16.73. Columbus McKinnon has a 52 week low of $11.78 and a 52 week high of $24.40. The stock has a market cap of $564.43 million, a PE ratio of 93.52 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.83 and a quick ratio of 0.99.

Columbus McKinnon (NASDAQ:CMCO) last posted its 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 company had revenue of $258.66 million during the quarter, compared to analyst estimates of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. Columbus McKinnon’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. Analysts forecast that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, February 13th. Columbus McKinnon’s dividend payout ratio is presently 133.33%.

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.