Columbus McKinnon (CMCO) Cut to “C+” at TheStreet
A number of other research firms have also recently commented on CMCO. Seaport Global Securities reaffirmed a buy rating and set a $50.00 price objective on shares of Columbus McKinnon in a research report on Wednesday, January 10th. Roth Capital lifted their price objective on shares of Columbus McKinnon from $41.00 to $50.00 and gave the stock a buy rating in a research report on Monday, January 15th. BidaskClub cut shares of Columbus McKinnon from a hold rating to a sell rating in a research report on Friday, January 19th. Zacks Investment Research cut shares of Columbus McKinnon from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Finally, ValuEngine raised shares of Columbus McKinnon from a hold rating to a buy rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Columbus McKinnon has a consensus rating of Buy and an average target price of $46.33.
Columbus McKinnon (NASDAQ CMCO) opened at $35.59 on Tuesday. The firm has a market cap of $818.52, a price-to-earnings ratio of 96.19 and a beta of 1.78. Columbus McKinnon has a fifty-two week low of $23.12 and a fifty-two week high of $44.55. The company has a current ratio of 1.81, a quick ratio of 1.18 and a debt-to-equity ratio of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.45%. Columbus McKinnon’s dividend payout ratio (DPR) is 43.24%.
In other news, VP Alan S. Korman sold 1,558 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.10, for a total value of $62,475.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark R. Paradowski sold 3,906 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,225 shares of company stock valued at $247,918. Company insiders own 3.91% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC boosted its position in shares of Columbus McKinnon by 94.5% in the fourth quarter. Citadel Advisors LLC now owns 34,327 shares of the industrial products company’s stock valued at $1,372,000 after acquiring an additional 16,679 shares during the period. American International Group Inc. boosted its position in shares of Columbus McKinnon by 14.1% in the fourth quarter. American International Group Inc. now owns 14,840 shares of the industrial products company’s stock valued at $593,000 after acquiring an additional 1,836 shares during the period. Employees Retirement System of Texas bought a new stake in shares of Columbus McKinnon in the fourth quarter valued at about $1,239,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Columbus McKinnon by 1.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 106,726 shares of the industrial products company’s stock valued at $4,267,000 after acquiring an additional 1,768 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Columbus McKinnon by 15.2% in the fourth quarter. First Trust Advisors LP now owns 18,322 shares of the industrial products company’s stock valued at $733,000 after acquiring an additional 2,415 shares during the period. 84.93% of the stock is owned by institutional investors.
About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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