Zacks Investment Research upgraded shares of Columbus McKinnon Corporation (NASDAQ:CMCO) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning. The brokerage currently has $37.00 target price on the industrial products company’s stock.

According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “

Several other research analysts also recently commented on the company. TheStreet raised Columbus McKinnon Corporation from a c rating to a b rating in a report on Tuesday, August 1st. Roth Capital set a $36.00 target price on Columbus McKinnon Corporation and gave the stock a buy rating in a report on Thursday. ValuEngine downgraded Columbus McKinnon Corporation from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, BidaskClub downgraded Columbus McKinnon Corporation from a sell rating to a strong sell rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $34.50.

Columbus McKinnon Corporation (CMCO) traded down 0.50% during trading on Thursday, reaching $32.06. The company’s stock had a trading volume of 100,961 shares. Columbus McKinnon Corporation has a 52-week low of $16.28 and a 52-week high of $32.50. The stock has a market cap of $725.36 million, a price-to-earnings ratio of 48.58 and a beta of 1.92. The firm has a 50 day moving average price of $25.99 and a 200-day moving average price of $25.96.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.23. The business had revenue of $203.70 million for the quarter, compared to analyst estimates of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. Columbus McKinnon Corporation’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. On average, analysts expect that Columbus McKinnon Corporation will post $1.90 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/06/columbus-mckinnon-corporation-nasdaqcmco-upgraded-to-strong-buy-by-zacks-investment-research.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, August 9th. Columbus McKinnon Corporation’s dividend payout ratio is 25.00%.

In other news, VP Gene P. Buer sold 10,669 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $31.66, for a total value of $337,780.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Alan S. Korman sold 1,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $28.71, for a total value of $28,710.00. The disclosure for this sale can be found here. Insiders sold a total of 15,169 shares of company stock worth $461,741 over the last three months. 3.91% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Columbus McKinnon Corporation by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 239,445 shares of the industrial products company’s stock worth $6,088,000 after buying an additional 17,801 shares in the last quarter. Boston Partners increased its position in shares of Columbus McKinnon Corporation by 94.2% in the second quarter. Boston Partners now owns 160,432 shares of the industrial products company’s stock worth $4,078,000 after buying an additional 77,832 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Columbus McKinnon Corporation by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 123,828 shares of the industrial products company’s stock worth $3,148,000 after buying an additional 2,900 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Columbus McKinnon Corporation by 35.7% in the second quarter. Essex Investment Management Co. LLC now owns 56,933 shares of the industrial products company’s stock worth $1,447,000 after buying an additional 14,970 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Columbus McKinnon Corporation by 4.0% in the second quarter. Russell Investments Group Ltd. now owns 58,521 shares of the industrial products company’s stock worth $1,488,000 after buying an additional 2,277 shares in the last quarter. 84.87% of the stock is currently owned by institutional investors.

Columbus McKinnon Corporation Company Profile

Get a free copy of the Zacks research report on Columbus McKinnon Corporation (CMCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Columbus McKinnon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon Corporation and related companies with MarketBeat.com's FREE daily email newsletter.