Columbus McKinnon (NASDAQ:CMCO) Downgraded by DA Davidson to Neutral

DA Davidson downgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat reports. DA Davidson currently has $35.00 target price on the industrial products company’s stock.

Separately, StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday.

Columbus McKinnon Trading Down 41.2 %

Shares of Columbus McKinnon stock opened at $20.87 on Tuesday. Columbus McKinnon has a 1 year low of $19.61 and a 1 year high of $45.84. The company’s fifty day simple moving average is $36.65 and its 200-day simple moving average is $35.18. The company has a market cap of $598.76 million, a price-to-earnings ratio of 39.38 and a beta of 1.22. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%. As a group, sell-side analysts expect that Columbus McKinnon will post 2.98 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.34%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 52.83%.

Insider Activity at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $37.34 per share, for a total transaction of $37,340.00. Following the completion of the transaction, the director now directly owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. The trade was a 19.94 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Columbus McKinnon

Institutional investors and hedge funds have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. bought a new position in Columbus McKinnon during the 4th quarter valued at about $26,416,000. Victory Capital Management Inc. raised its stake in shares of Columbus McKinnon by 117.8% in the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after acquiring an additional 398,826 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Columbus McKinnon in the fourth quarter valued at approximately $14,799,000. Segall Bryant & Hamill LLC boosted its holdings in shares of Columbus McKinnon by 95.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after acquiring an additional 356,232 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Columbus McKinnon by 72.2% during the 4th quarter. Fisher Asset Management LLC now owns 406,968 shares of the industrial products company’s stock worth $15,155,000 after acquiring an additional 170,595 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.