Columbus McKinnon (NASDAQ:CMCO) Announces Quarterly Earnings Results

Columbus McKinnon (NASDAQ:CMCO) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01, Briefing.com reports. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The business had revenue of $239.73 million during the quarter, compared to analysts’ expectations of $241.25 million. During the same period in the previous year, the business posted $0.62 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $35.62 on Friday. Columbus McKinnon has a 52-week low of $30.29 and a 52-week high of $45.84. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 21.99 and a beta of 1.21. The company has a fifty day simple moving average of $36.40 and a 200-day simple moving average of $39.95. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, August 9th. Columbus McKinnon’s payout ratio is 17.28%.

Insider Transactions at Columbus McKinnon

In other news, Director Christopher J. Stephens acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average price of $38.71 per share, with a total value of $58,065.00. Following the completion of the acquisition, the director now owns 1,500 shares of the company’s stock, valued at approximately $58,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CMCO. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. assumed coverage on shares of Columbus McKinnon in a research report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price objective for the company.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.