Columbus McKinnon (NASDAQ:CMCO) Director Christopher Stephens Purchases 2,750 Shares

Columbus McKinnon Corporation (NASDAQ:CMCO) Director Christopher Stephens acquired 2,750 shares of Columbus McKinnon stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $17.14 per share, with a total value of $47,135.00. Following the completion of the acquisition, the director owned 22,317 shares of the company’s stock, valued at $382,513.38. This trade represents a 14.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $17.62 on Friday. The firm has a market cap of $508.51 million, a PE ratio of -2.36 and a beta of 1.37. The stock’s fifty day moving average price is $16.11 and its two-hundred day moving average price is $16.25. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. Columbus McKinnon Corporation has a 1 year low of $11.99 and a 1 year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping 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 company had revenue of $531.46 million during the quarter, compared to the consensus estimate of $501.27 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue 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. On average, equities research analysts forecast that Columbus McKinnon Corporation will post 2.05 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. Columbus McKinnon’s dividend payout ratio (DPR) is presently -3.75%.

Institutional Trading of Columbus McKinnon

Several institutional investors and hedge funds have recently bought and sold shares of CMCO. Public Employees Retirement System of Ohio purchased a new position in shares of Columbus McKinnon during the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC raised its position in shares of Columbus McKinnon by 48.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after buying an additional 565 shares in the last quarter. Group One Trading LLC raised its position in shares of Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Columbus McKinnon by 66.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after buying an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,893 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.