Columbus McKinnon Corp. (CMCO) Given Consensus Recommendation of “Hold” by Analysts
Columbus McKinnon Corp. (NASDAQ:CMCO) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $50.00.
CMCO has been the topic of a number of research reports. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Roth Capital increased their target price on shares of Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 15th. Seaport Global Securities reissued a “buy” rating and set a $50.00 target price on shares of Columbus McKinnon in a report on Wednesday, January 10th. Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Thursday, November 2nd. Finally, TheStreet cut shares of Columbus McKinnon from a “b” rating to a “c+” rating in a report on Tuesday, February 6th.
Shares of Columbus McKinnon (CMCO) opened at $35.07 on Tuesday. The firm has a market cap of $819.34, a price-to-earnings ratio of 94.78 and a beta of 1.78. Columbus McKinnon has a twelve month low of $23.13 and a twelve month high of $44.55. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Friday, February 9th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 43.24%.
In related news, VP Alan S. Korman sold 1,558 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.10, for a total value of $62,475.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark R. Paradowski sold 3,906 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,225 shares of company stock worth $247,918. Corporate insiders own 3.91% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Columbus McKinnon by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,919 shares of the industrial products company’s stock worth $8,448,000 after acquiring an additional 50,970 shares during the period. Algert Global LLC acquired a new stake in shares of Columbus McKinnon in the 3rd quarter worth about $1,054,000. New York State Common Retirement Fund increased its holdings in shares of Columbus McKinnon by 16.0% in the 2nd quarter. New York State Common Retirement Fund now owns 22,500 shares of the industrial products company’s stock worth $572,000 after acquiring an additional 3,099 shares during the period. Systematic Financial Management LP increased its holdings in shares of Columbus McKinnon by 17.4% in the 3rd quarter. Systematic Financial Management LP now owns 264,273 shares of the industrial products company’s stock worth $10,008,000 after acquiring an additional 39,118 shares during the period. Finally, State Street Corp increased its holdings in shares of Columbus McKinnon by 6.0% in the 2nd quarter. State Street Corp now owns 364,841 shares of the industrial products company’s stock worth $9,277,000 after acquiring an additional 20,506 shares during the period. 84.63% of the stock is currently owned by institutional investors and hedge funds.
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About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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