Columbus McKinnon (NASDAQ:CMCO) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.85 and traded as high as $16.64. Columbus McKinnon shares last traded at $16.10, with a volume of 423,314 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on CMCO shares. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. increased their target price on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings cut Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. DA Davidson reduced their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. Finally, Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Columbus McKinnon presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Columbus McKinnon Stock Performance

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 stock has a market cap of $449.78 million, a P/E ratio of -2.09 and a beta of 1.36. The company’s 50 day moving average price is $17.41 and its 200-day moving average price is $15.82.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $501.27 million. During the same period last year, the business posted $0.50 earnings per share. Columbus McKinnon’s revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities analysts forecast that Columbus McKinnon Corporation will post 2 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 7th. Columbus McKinnon’s payout ratio is currently -3.75%.

Insiders Place Their Bets

In related news, EVP John Linker acquired 7,500 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the purchase, the executive vice president owned 7,500 shares in the company, valued at $147,525. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher Stephens bought 2,750 shares of the stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the purchase, the director directly owned 22,317 shares in the company, valued at approximately $382,513.38. This represents a 14.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

A number of large investors have recently added to or reduced their stakes in CMCO. EverSource Wealth Advisors LLC raised its holdings in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 565 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Columbus McKinnon in the 2nd quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Columbus McKinnon during the second quarter valued at approximately $29,000. Legal & General Group Plc acquired a new stake in shares of Columbus McKinnon in the second quarter worth approximately $44,000. Finally, Isthmus Partners LLC grew its stake in Columbus McKinnon by 3.4% during the first quarter. Isthmus Partners LLC now owns 124,049 shares of the industrial products company’s stock worth $1,802,000 after buying an additional 4,063 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

About Columbus McKinnon

Columbus McKinnon Corporation is an industrial technology company that designs, manufactures and distributes products and systems used to move, lift, position and control materials. Its solutions support material handling, automation and motion-control applications across a range of industrial and commercial markets.

The company’s product portfolio includes electric and manual hoists, cranes and crane components, lifting equipment, actuators, gear reducers, conveyors, precision positioning systems and related controls.