Columbus McKinnon (NASDAQ:CMCO) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Columbus McKinnon in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Columbus McKinnon presently has a consensus rating of “Reduce” and an average target price of $35.00.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $17.15 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.81 and a quick ratio of 0.99. The company has a market cap of $492.72 million, a price-to-earnings ratio of 122.51 and a beta of 1.30. The stock’s 50-day moving average is $15.46 and its two-hundred day moving average is $15.28. Columbus McKinnon has a 1-year low of $11.78 and a 1-year high of $41.05.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, February 8th. The industrial products company reported $0.36 EPS for the quarter. The business had revenue of $166.55 million during the quarter. Columbus McKinnon had a return on equity of 7.33% and a net margin of 0.41%. Analysts forecast that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders 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 yield of 1.6%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CMCO. Simplex Trading LLC grew its position in shares of Columbus McKinnon by 782.2% in the 2nd quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock valued at $25,000 after buying an additional 1,932 shares during the last quarter. Group One Trading LLC increased its position in shares of Columbus McKinnon by 266.7% during the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings 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 purchasing an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 1,893 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Columbus McKinnon during the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.