Columbus McKinnon’s (CMCO) “Neutral” Rating Reiterated at DA Davidson

DA Davidson restated their neutral rating on shares of Columbus McKinnon (NASDAQ:CMCO) in a report issued on Tuesday morning, Marketbeat.com reports. They currently have a $35.00 target price on the industrial products company’s stock.

Separately, StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Columbus McKinnon Trading Down 3.1 %

Shares of NASDAQ:CMCO opened at $20.08 on Tuesday. The company’s 50-day moving average price is $33.91 and its two-hundred day moving average price is $34.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. Columbus McKinnon has a one year low of $19.55 and a one year high of $45.84. The stock has a market capitalization of $574.49 million, a PE ratio of 60.85 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. On average, equities analysts forecast that Columbus McKinnon will post 2.96 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were issued a $0.07 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.39%. Columbus McKinnon’s payout ratio is 84.85%.

Insider Activity

In related news, Director Christopher J. Stephens purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the purchase, the director now owns 11,014 shares in the company, valued at approximately $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Columbus McKinnon by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after buying an additional 19,550 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Columbus McKinnon by 13.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock valued at $57,646,000 after buying an additional 184,615 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after buying an additional 74,831 shares during the last quarter. Systematic Financial Management LP grew its stake in Columbus McKinnon by 6.0% in the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock valued at $30,875,000 after buying an additional 46,806 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after buying an additional 398,826 shares during the last quarter. Institutional investors and hedge funds own 95.96% 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.