Columbus McKinnon (NASDAQ:CMCO) Reaches New 1-Year Low After Earnings Miss

Columbus McKinnon Co. (NASDAQ:CMCO) shares hit a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $22.35 and last traded at $21.22, with a volume of 288987 shares changing hands. The stock had previously closed at $35.48.

The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%.

Columbus McKinnon Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.34%. Columbus McKinnon’s dividend payout ratio is currently 52.83%.

Analyst Ratings Changes

Several research firms have commented on CMCO. DA Davidson lowered shares of Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Tuesday. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Buying and Selling

In related news, Director Christopher J. Stephens acquired 1,000 shares of the stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $37.34 per share, with a total value of $37,340.00. Following the transaction, the director now directly owns 6,014 shares in the company, valued at approximately $224,562.76. This represents a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Columbus McKinnon

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

Columbus McKinnon Stock Down 41.2 %

The business’s 50 day moving average is $36.65 and its 200 day moving average is $35.18. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The company has a market cap of $598.76 million, a P/E ratio of 39.38 and a beta of 1.22.

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.