Columbus McKinnon (NASDAQ:CMCO) Given Neutral Rating at DA Davidson

DA Davidson reissued their neutral rating on shares of Columbus McKinnon (NASDAQ:CMCO) in a research note released on Tuesday morning, MarketBeat reports. They currently have a $35.00 target price on the industrial products company’s stock.

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Columbus McKinnon Trading Down 0.0 %

Shares of CMCO opened at $20.47 on Tuesday. Columbus McKinnon has a 12-month low of $19.55 and a 12-month high of $45.84. 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 stock’s 50-day moving average price is $34.69 and its 200 day moving average price is $34.57. The firm has a market capitalization of $587.28 million, a price-to-earnings ratio of 38.62 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) 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%. As a group, research analysts predict that Columbus McKinnon will post 2.98 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 52.83%.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $20.27 per share, for a total transaction of $101,350.00. Following the transaction, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. The trade was a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Columbus McKinnon

Large investors have recently bought and sold shares of the business. Mascoma Wealth Management LLC bought a new stake in Columbus McKinnon during the 3rd quarter worth approximately $25,000. Sterling Capital Management LLC boosted its position in Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after buying an additional 810 shares during the last quarter. Millburn Ridgefield Corp bought a new position in Columbus McKinnon in the 3rd quarter valued at $155,000. Park Avenue Securities LLC bought a new position in Columbus McKinnon in the 4th quarter valued at $239,000. Finally, Freestone Grove Partners LP bought a new position in Columbus McKinnon in the 4th quarter valued at $242,000. 95.96% of the stock is currently owned by institutional investors.

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.