Columbus McKinnon (NASDAQ:CMCO) Shares Gap Up – Should You Buy?

Columbus McKinnon Corporation (NASDAQ:CMCO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.95, but opened at $18.69. Columbus McKinnon shares last traded at $17.9570, with a volume of 11,946 shares.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CMCO shares. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. increased their price target on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. DA Davidson dropped their price target on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, June 15th. Finally, Weiss Ratings lowered Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Columbus McKinnon Trading Up 1.1%

The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The company has a market capitalization of $518.90 million, a price-to-earnings ratio of -2.41 and a beta of 1.37. The business’s 50-day simple moving average is $16.33 and its 200-day simple moving average is $16.15.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.34. The company had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The company’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, research analysts expect that Columbus McKinnon Corporation will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Columbus McKinnon’s dividend payout ratio (DPR) is presently -3.75%.

Insiders Place Their Bets

In related news, Director Christopher J. Stephens purchased 2,750 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were bought at an average price of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director directly owned 22,317 shares in the company, valued at $382,513.38. This trade represents a 14.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP John R. Linker purchased 7,500 shares of Columbus McKinnon stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president directly owned 7,500 shares in the company, valued at $147,525. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMCO. Public Employees Retirement System of Ohio bought a new position in Columbus McKinnon during the second quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 565 shares during the last quarter. Group One Trading LLC raised its position in shares of Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,893 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

About Columbus McKinnon

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.