Shares of Columbus McKinnon (NASDAQ:CMCO) have been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $49.67.
Several equities research analysts have recently commented on the stock. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Monday, March 12th. Finally, BidaskClub downgraded shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 4th.
Shares of NASDAQ:CMCO traded down $0.94 during midday trading on Thursday, hitting $37.75. 62,344 shares of the company’s stock were exchanged, compared to its average volume of 135,104. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.81 and a quick ratio of 1.06. The company has a market cap of $869.08 million, a PE ratio of 28.60 and a beta of 1.86. Columbus McKinnon has a 12 month low of $23.72 and a 12 month high of $44.55.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Friday, May 4th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. This is an increase from Columbus McKinnon’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, May 3rd. Columbus McKinnon’s dividend payout ratio is presently 15.15%.
In other Columbus McKinnon news, VP Alan S. Korman sold 1,724 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $36.00, for a total value of $62,064.00. Following the completion of the sale, the vice president now directly owns 16,593 shares of the company’s stock, valued at approximately $597,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.91% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Howe & Rusling Inc. bought a new stake in Columbus McKinnon in the 4th quarter worth about $114,000. SG Americas Securities LLC purchased a new position in Columbus McKinnon in the first quarter valued at about $109,000. Globeflex Capital L P purchased a new position in Columbus McKinnon in the fourth quarter valued at about $149,000. Global X Management Co. LLC boosted its stake in Columbus McKinnon by 139.9% in the first quarter. Global X Management Co. LLC now owns 6,800 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 3,965 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Columbus McKinnon in the fourth quarter valued at about $281,000. 92.32% of the stock is owned by institutional investors and hedge funds.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.
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