Columbus McKinnon Corp. (NASDAQ:CMCO) has received an average recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $47.00.

CMCO has been the subject of a number of research reports. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Thursday, August 2nd. ValuEngine lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. BidaskClub lowered Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Finally, Craig Hallum set a $54.00 target price on Columbus McKinnon and gave the company a “buy” rating in a research report on Tuesday, October 30th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Columbus McKinnon by 2.6% during the 3rd quarter. Morgan Stanley now owns 88,921 shares of the industrial products company’s stock worth $3,516,000 after buying an additional 2,215 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Columbus McKinnon by 22.1% in the third quarter. Nordea Investment Management AB now owns 119,767 shares of the industrial products company’s stock valued at $4,736,000 after buying an additional 21,685 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Columbus McKinnon by 33.9% in the third quarter. TIAA CREF Investment Management LLC now owns 84,517 shares of the industrial products company’s stock valued at $3,342,000 after buying an additional 21,400 shares during the period. Teachers Advisors LLC increased its stake in shares of Columbus McKinnon by 4.0% in the third quarter. Teachers Advisors LLC now owns 42,894 shares of the industrial products company’s stock valued at $1,696,000 after buying an additional 1,666 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Columbus McKinnon by 14.1% during the 3rd quarter. Macquarie Group Ltd. now owns 1,280,623 shares of the industrial products company’s stock valued at $50,635,000 after purchasing an additional 157,958 shares in the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.

Shares of NASDAQ:CMCO traded up $0.79 during midday trading on Friday, reaching $34.75. The company’s stock had a trading volume of 3,347 shares, compared to its average volume of 148,678. Columbus McKinnon has a fifty-two week low of $29.70 and a fifty-two week high of $45.85. The firm has a market cap of $807.77 million, a PE ratio of 17.17 and a beta of 1.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.85.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The company had revenue of $217.14 million during the quarter, compared to analyst estimates of $218.91 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Columbus McKinnon will post 2.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Friday, November 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, November 8th. Columbus McKinnon’s payout ratio is presently 9.95%.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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