Columbus McKinnon Corporation (NASDAQ:CMCO) Shareholders to Get $0.07 Quarterly Dividend

Columbus McKinnon Corporation (NASDAQ:CMCO) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Friday, November 6th will be given a dividend of $0.07 per share by the industrial products company on Monday, November 16th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 6th.

Columbus McKinnon has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 10.5%.

Columbus McKinnon Stock Up 3.8%

Shares of CMCO opened at $14.04 on Tuesday. The company has a 50-day simple moving average of $16.54 and a 200-day simple moving average of $16.66. The firm has a market capitalization of $405.19 million, a P/E ratio of -1.88 and a beta of 1.43. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. Columbus McKinnon has a 52 week low of $11.99 and a 52 week high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts expect that Columbus McKinnon will post 2.00 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CMCO shares. Weiss Ratings lowered Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. raised their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.00.

About Columbus McKinnon

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.