BidaskClub downgraded shares of Columbus McKinnon Corporation (NASDAQ:CMCO) from a sell rating to a strong sell rating in a report published on Tuesday.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Columbus McKinnon Corporation from a hold rating to a buy rating and set a $28.00 price objective on the stock in a report on Wednesday, March 29th. TheStreet cut Columbus McKinnon Corporation from a b- rating to a c rating in a report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Columbus McKinnon Corporation currently has an average rating of Hold and a consensus target price of $31.50.

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) traded up 2.30% on Tuesday, hitting $26.22. The company had a trading volume of 108,280 shares. The firm has a market capitalization of $592.47 million, a price-to-earnings ratio of 60.98 and a beta of 1.92. Columbus McKinnon Corporation has a 1-year low of $16.28 and a 1-year high of $29.65. The company has a 50 day moving average price of $25.99 and a 200 day moving average price of $25.96.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its quarterly earnings results on Friday, June 2nd. The industrial products company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Columbus McKinnon Corporation had a return on equity of 9.03% and a net margin of 1.41%. The firm had revenue of $183.70 million for the quarter, compared to analysts’ expectations of $176.40 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts forecast that Columbus McKinnon Corporation will post $1.66 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Columbus McKinnon Corporation (NASDAQ:CMCO) Downgraded by BidaskClub to “Strong Sell”” was first published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/columbus-mckinnon-corporation-nasdaqcmco-downgraded-by-bidaskclub-to-strong-sell/1461423.html.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. Columbus McKinnon Corporation’s dividend payout ratio (DPR) is 35.56%.

In related news, VP Alan S. Korman sold 1,000 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $28.71, for a total transaction of $28,710.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 4,500 shares of company stock worth $123,960 in the last three months. 3.91% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CMCO. Envestnet Asset Management Inc. boosted its stake in shares of Columbus McKinnon Corporation by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after buying an additional 91 shares during the period. Isthmus Partners LLC boosted its stake in shares of Columbus McKinnon Corporation by 0.7% in the first quarter. Isthmus Partners LLC now owns 30,604 shares of the industrial products company’s stock worth $760,000 after buying an additional 221 shares during the period. US Bancorp DE boosted its stake in shares of Columbus McKinnon Corporation by 1.6% in the first quarter. US Bancorp DE now owns 28,659 shares of the industrial products company’s stock worth $711,000 after buying an additional 450 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Columbus McKinnon Corporation by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 45,122 shares of the industrial products company’s stock worth $1,120,000 after buying an additional 538 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Columbus McKinnon Corporation by 7.1% in the first quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after buying an additional 795 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Corporation Company Profile

Receive News & Ratings for Columbus McKinnon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.