Columbus McKinnon (NASDAQ:CMCO) Stock Breaks Above 200-Day Moving Average – Here’s Why

Columbus McKinnon Corporation (NASDAQ:CMCO)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.74 and traded as high as $16.44. Columbus McKinnon shares last traded at $16.03, with a volume of 423,396 shares traded.

Analyst Upgrades and Downgrades

CMCO has been the topic of a number of research analyst reports. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. DA Davidson dropped their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, June 15th. Finally, Weiss Ratings cut shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Columbus McKinnon presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Columbus McKinnon Stock Up 5.0%

The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The company has a market capitalization of $485.71 million, a PE ratio of -2.26 and a beta of 1.36. The business has a 50-day moving average of $17.70 and a 200 day moving average of $15.75.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The business had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities research analysts predict that Columbus McKinnon Corporation will post 2 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. Columbus McKinnon’s dividend payout ratio (DPR) is -3.75%.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher Stephens purchased 2,750 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the transaction, the director owned 22,317 shares of the company’s stock, valued at approximately $382,513.38. This trade represents a 14.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John Linker purchased 7,500 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the purchase, the executive vice president owned 7,500 shares of the company’s stock, valued at $147,525. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.09% of the company’s stock.

Institutional Trading of Columbus McKinnon

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Columbus McKinnon in the second quarter worth about $37,183,000. Stanley Capital Management LLC purchased a new stake in Columbus McKinnon during the second quarter valued at approximately $12,936,000. Heartland Advisors Inc. lifted its stake in shares of Columbus McKinnon by 26.1% in the 4th quarter. Heartland Advisors Inc. now owns 595,100 shares of the industrial products company’s stock valued at $10,265,000 after purchasing an additional 123,025 shares during the last quarter. Van Den Berg Management I Inc. lifted its stake in shares of Columbus McKinnon by 11.8% in the 2nd quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock valued at $8,089,000 after purchasing an additional 56,282 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Columbus McKinnon in the 4th quarter worth approximately $6,395,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

About Columbus McKinnon

Columbus McKinnon Corporation is an industrial technology company that designs, manufactures and distributes products and systems used to move, lift, position and control materials. Its solutions support material handling, automation and motion-control applications across a range of industrial and commercial markets.

The company’s product portfolio includes electric and manual hoists, cranes and crane components, lifting equipment, actuators, gear reducers, conveyors, precision positioning systems and related controls.