Columbus McKinnon (NASDAQ:CMCO) Trading 6.2% Higher – What’s Next?

Columbus McKinnon Corporation (NASDAQ:CMCO) rose 6.2% on Wednesday . The stock traded as high as $21.09 and last traded at $21.28. Approximately 87,362 shares changed hands during trading, a decline of 63% from the average daily volume of 235,564 shares. The stock had previously closed at $20.03.

Wall Street Analyst Weigh In

CMCO has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Columbus McKinnon in a research report on Wednesday, October 8th. Finally, CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Columbus McKinnon has a consensus rating of “Hold” and a consensus price target of $35.00.

Columbus McKinnon Stock Up 2.8%

The business’s fifty day moving average price is $16.95 and its 200 day moving average price is $15.77. The firm has a market capitalization of $591.84 million, a price-to-earnings ratio of 146.90 and a beta of 1.29. The company has a current ratio of 1.81, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%. The firm had revenue of $261.05 million during the quarter, compared to analysts’ expectations of $240.63 million. During the same quarter in the prior year, the business earned $0.70 EPS. Columbus McKinnon’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, November 7th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 200.00%.

Institutional Trading of Columbus McKinnon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Columbus McKinnon by 32.4% in the 1st quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock valued at $2,091,000 after purchasing an additional 30,255 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Columbus McKinnon by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company’s stock worth $3,739,000 after purchasing an additional 10,780 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Columbus McKinnon in the 2nd quarter valued at $308,000. Moody National Bank Trust Division increased its stake in Columbus McKinnon by 3.0% in the 2nd quarter. Moody National Bank Trust Division now owns 23,885 shares of the industrial products company’s stock valued at $365,000 after buying an additional 703 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in Columbus McKinnon by 942.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 8,340 shares of the industrial products company’s stock worth $127,000 after buying an additional 7,540 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.