Insider Selling: Columbus McKinnon (NASDAQ:CMCO) Insider Sells $120,706.80 in Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) insider Jon Adams sold 5,185 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total value of $120,706.80. Following the completion of the transaction, the insider directly owned 9,366 shares in the company, valued at approximately $218,040.48. This represents a 35.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Columbus McKinnon Trading Down 4.1%

Columbus McKinnon stock opened at $20.33 on Friday. Columbus McKinnon Corporation has a 52-week low of $11.78 and a 52-week high of $24.40. The company has a market cap of $584.28 million, a P/E ratio of 96.81 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $19.49 and a two-hundred day simple moving average of $16.63.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The company had revenue of $258.66 million during the quarter, compared to analyst estimates of $241.60 million. During the same period in the previous year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts predict that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, February 13th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 133.33%.

Analysts Set New Price Targets

CMCO has been the subject of a number of analyst reports. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. DA Davidson set a $20.00 target price on shares of Columbus McKinnon in a report on Thursday. Finally, Wall Street Zen downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Columbus McKinnon presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in shares of Columbus McKinnon by 32.4% during the first quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock worth $2,091,000 after acquiring an additional 30,255 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Columbus McKinnon by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company’s stock valued at $3,739,000 after purchasing an additional 10,780 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $869,000. Inspire Investing LLC grew its position in shares of Columbus McKinnon by 25.0% during the second quarter. Inspire Investing LLC now owns 25,535 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 5,104 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Columbus McKinnon in the second quarter worth about $175,000. Institutional investors own 95.96% of the company’s stock.

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.