Christopher Stephens Acquires 2,750 Shares of Columbus McKinnon (NASDAQ:CMCO) Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) Director Christopher Stephens acquired 2,750 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the purchase, the director directly owned 22,317 shares of the company’s stock, valued at approximately $382,513.38. This trade represents a 14.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Columbus McKinnon Price Performance

Columbus McKinnon stock traded up $0.29 during trading on Friday, reaching $17.62. The company had a trading volume of 284,578 shares, compared to its average volume of 527,663. Columbus McKinnon Corporation has a 1-year low of $11.99 and a 1-year high of $24.40. The firm’s 50-day simple moving average is $16.03 and its 200 day simple moving average is $16.24. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The firm has a market capitalization of $508.51 million, a PE ratio of -2.36 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $501.27 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Columbus McKinnon Corporation will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. 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 raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price target 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. Finally, DA Davidson dropped their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Institutional Trading of Columbus McKinnon

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in Columbus McKinnon during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 565 shares during the last quarter. Group One Trading LLC lifted its position in shares of Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,893 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.