Columbus McKinnon (NASDAQ:CMCO) Insider Sells $120,706.80 in Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) insider Jon Adams sold 5,185 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total value of $120,706.80. Following the transaction, the insider owned 9,366 shares of the company’s stock, valued at $218,040.48. This trade represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Columbus McKinnon Stock Down 9.9%

NASDAQ CMCO traded down $2.30 during midday trading on Thursday, hitting $20.98. 554,307 shares of the company traded hands, compared to its average volume of 454,737. The company has a market cap of $602.82 million, a PE ratio of 100.00 and a beta of 1.33. The company’s 50-day simple moving average is $19.35 and its 200-day simple moving average is $16.57. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $24.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.83 and a quick ratio of 0.99.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The firm had revenue of $258.66 million for the quarter, compared to analyst estimates of $241.60 million. During the same period in the previous year, the company earned $0.56 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, February 13th. Columbus McKinnon’s dividend payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CMCO shares. DA Davidson set a $20.00 target price on shares of Columbus McKinnon in a research report on Thursday. CJS Securities raised Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds and other institutional investors have recently modified their holdings of CMCO. Signaturefd LLC lifted its stake in shares of Columbus McKinnon by 18.1% during the fourth quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 545 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 565 shares in the last quarter. Access Investment Management LLC boosted its position in Columbus McKinnon by 0.9% in the 3rd quarter. Access Investment Management LLC now owns 82,950 shares of the industrial products company’s stock valued at $1,190,000 after buying an additional 735 shares during the last quarter. Bridge City Capital LLC boosted its holdings in Columbus McKinnon by 0.8% in the second quarter. Bridge City Capital LLC now owns 97,866 shares of the industrial products company’s stock valued at $1,494,000 after purchasing an additional 784 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in shares of Columbus McKinnon by 4.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 850 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.