Columbus McKinnon (NASDAQ:CMCO) EVP Purchases $147,525.00 in Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) EVP John Linker acquired 7,500 shares of the stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $19.67 per share, with a total value of $147,525.00. Following the completion of the purchase, the executive vice president directly owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Columbus McKinnon Trading Down 3.4%

Shares of CMCO opened at $20.76 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The firm has a market capitalization of $599.13 million, a P/E ratio of -2.78 and a beta of 1.37. The stock’s fifty day simple moving average is $15.07 and its 200 day simple moving average is $16.38. Columbus McKinnon Corporation has a twelve month low of $11.99 and a twelve month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. The firm had revenue of $531.46 million during the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. 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 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Columbus McKinnon’s payout ratio is presently -3.75%.

Hedge Funds Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Columbus McKinnon during the second quarter worth about $3,667,000. State of Wyoming purchased a new position in Columbus McKinnon in the second quarter valued at about $66,000. Empowered Funds LLC boosted its holdings in Columbus McKinnon by 122.6% in the first quarter. Empowered Funds LLC now owns 262,129 shares of the industrial products company’s stock valued at $3,809,000 after purchasing an additional 144,351 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Columbus McKinnon during the 1st quarter valued at approximately $535,000. Finally, Quantinno Capital Management LP grew its stake in Columbus McKinnon by 25.8% during the 1st quarter. Quantinno Capital Management LP now owns 101,139 shares of the industrial products company’s stock valued at $1,470,000 after purchasing an additional 20,714 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CMCO shares. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. increased their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, DA Davidson reduced 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.