Columbus McKinnon Co. (NASDAQ:CMCO) Receives Average Recommendation of “Buy” from Analysts

Columbus McKinnon Co. (NASDAQ:CMCO) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $69.33.

A number of equities research analysts have issued reports on CMCO shares. Zacks Investment Research upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Thursday, November 18th. Colliers Securities reiterated a “buy” rating on shares of Columbus McKinnon in a research note on Friday, July 30th. Finally, TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b+” rating in a research note on Thursday, October 28th.

Columbus McKinnon stock traded down $0.27 during trading on Friday, reaching $50.46. The company had a trading volume of 54,979 shares, compared to its average volume of 137,432. Columbus McKinnon has a 52 week low of $36.77 and a 52 week high of $57.06. The firm’s 50-day simple moving average is $49.11 and its 200 day simple moving average is $47.94. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Wednesday, October 27th. The industrial products company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. Columbus McKinnon had a return on equity of 9.40% and a net margin of 3.05%. The company had revenue of $223.60 million for the quarter, compared to analysts’ expectations of $228.41 million. During the same period last year, the firm earned $0.34 EPS. Columbus McKinnon’s revenue for the quarter was up 41.7% compared to the same quarter last year. On average, analysts predict that Columbus McKinnon will post 2.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Friday, November 5th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, November 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Columbus McKinnon’s payout ratio is 26.09%.

In other news, CFO Gregory P. Rustowicz sold 7,607 shares of Columbus McKinnon stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $53.04, for a total transaction of $403,475.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark R. Paradowski sold 7,537 shares of Columbus McKinnon stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $53.20, for a total transaction of $400,968.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,534 shares of company stock valued at $1,656,888. 2.14% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Columbus McKinnon by 2.3% in the third quarter. BlackRock Inc. now owns 2,154,584 shares of the industrial products company’s stock worth $104,175,000 after purchasing an additional 49,287 shares during the last quarter. FMR LLC grew its holdings in Columbus McKinnon by 37.4% in the second quarter. FMR LLC now owns 1,461,907 shares of the industrial products company’s stock worth $70,523,000 after purchasing an additional 398,283 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Columbus McKinnon by 70.2% in the second quarter. Goldman Sachs Group Inc. now owns 1,455,698 shares of the industrial products company’s stock worth $70,223,000 after purchasing an additional 600,396 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Columbus McKinnon by 1.8% during the second quarter. Macquarie Group Ltd. now owns 1,412,863 shares of the industrial products company’s stock valued at $68,157,000 after buying an additional 24,941 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Columbus McKinnon by 17.8% during the second quarter. Vanguard Group Inc. now owns 1,359,439 shares of the industrial products company’s stock valued at $65,579,000 after buying an additional 205,287 shares during the last quarter. 96.43% of the stock is currently owned by institutional investors and hedge funds.

About Columbus McKinnon

Columbus McKinnon Corp. engages in the designing, manufacturing, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.

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