Columbus McKinnon (NASDAQ:CMCO) Issues Earnings Results

Columbus McKinnon (NASDAQ:CMCO) released its earnings results on Thursday. The industrial products company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12), Briefing.com reports. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The company had revenue of $437.83 million for the quarter, compared to the consensus estimate of $417.88 million. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was up 77.3% on a year-over-year basis. Columbus McKinnon updated its FY 2027 guidance to 1.700-1.900 EPS.

Columbus McKinnon Trading Down 2.0%

Shares of Columbus McKinnon stock opened at $15.51 on Thursday. The company’s 50-day moving average price is $15.18 and its 200-day moving average price is $17.15. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a 12-month low of $13.31 and a 12-month high of $24.40. The company has a market cap of $445.76 million, a price-to-earnings ratio of 73.86 and a beta of 1.38.

Columbus McKinnon Dividend Announcement

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

Analyst Ratings Changes

CMCO has been the topic of several research analyst reports. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. dropped their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. DA Davidson set a $20.00 price target on Columbus McKinnon in a research note on Thursday, February 12th. Finally, Wall Street Zen lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Columbus McKinnon currently has an average rating of “Hold” and an average target price of $23.50.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in Columbus McKinnon in the 4th quarter valued at $222,000. State of Wyoming increased its holdings in shares of Columbus McKinnon by 54.0% in the second quarter. State of Wyoming now owns 12,125 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 4,251 shares during the period. Captrust Financial Advisors bought a new position in shares of Columbus McKinnon in the fourth quarter worth $179,000. Public Employees Retirement System of Ohio raised its position in shares of Columbus McKinnon by 42.9% in the third quarter. Public Employees Retirement System of Ohio now owns 11,921 shares of the industrial products company’s stock worth $171,000 after buying an additional 3,581 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Columbus McKinnon by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock valued at $166,000 after buying an additional 852 shares during the period. 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.