Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Rating of “Hold” by Brokerages

Columbus McKinnon Corporation (NASDAQ:CMCO) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.50.

Several analysts have recently weighed in on CMCO shares. Zacks Research downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. DA Davidson set a $20.00 price objective on shares of Columbus McKinnon in a report on Thursday, February 12th. Wall Street Zen downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th.

Columbus McKinnon Stock Up 1.7%

Shares of NASDAQ:CMCO opened at $15.83 on Friday. The company has a market cap of $454.95 million, a price-to-earnings ratio of 75.38 and a beta of 1.38. The firm’s 50-day simple moving average is $15.12 and its 200-day simple moving average is $17.15. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a fifty-two week low of $13.31 and a fifty-two week high of $24.40.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Friday, May 1st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Columbus McKinnon’s payout ratio is currently 133.33%.

Institutional Trading of Columbus McKinnon

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in Columbus McKinnon by 122.6% during the first quarter. Empowered Funds LLC now owns 262,129 shares of the industrial products company’s stock worth $3,809,000 after buying an additional 144,351 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Columbus McKinnon during the first quarter worth about $535,000. Quantinno Capital Management LP boosted its holdings in Columbus McKinnon by 25.8% during the first quarter. Quantinno Capital Management LP now owns 101,139 shares of the industrial products company’s stock worth $1,470,000 after buying an additional 20,714 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Columbus McKinnon during the first quarter worth about $2,756,000. Finally, Van Den Berg Management I Inc. boosted its holdings in Columbus McKinnon by 26.2% during the first quarter. Van Den Berg Management I Inc. now owns 478,328 shares of the industrial products company’s stock worth $6,950,000 after buying an additional 99,309 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.