Roth Capital assumed coverage on shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in a research note published on Friday, MarketBeat reports. The firm issued a buy rating and a $33.00 price target on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Columbus McKinnon Corporation from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Columbus McKinnon Corporation from a hold rating to a sell rating in a research note on Monday, April 24th. Finally, TheStreet cut shares of Columbus McKinnon Corporation from a b- rating to a c rating in a research note on Wednesday, May 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $31.50.

Shares of Columbus McKinnon Corporation (NASDAQ CMCO) traded up 20.54% on Friday, reaching $31.10. The company had a trading volume of 83,037 shares. The firm has a 50-day moving average price of $25.89 and a 200 day moving average price of $25.93. The firm has a market capitalization of $702.74 million, a price-to-earnings ratio of 72.33 and a beta of 1.92. Columbus McKinnon Corporation has a 1-year low of $16.10 and a 1-year high of $31.46.

Columbus McKinnon Corporation (NASDAQ:CMCO) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.23. The firm had revenue of $203.70 million during the quarter, compared to analysts’ expectations of $190.62 million. Columbus McKinnon Corporation had a net margin of 1.41% and a return on equity of 9.03%. Columbus McKinnon Corporation’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities research analysts predict that Columbus McKinnon Corporation will post $1.66 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. Columbus McKinnon Corporation’s dividend payout ratio is presently 35.56%.

In other news, VP Alan S. Korman sold 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 4,500 shares of company stock valued at $123,960 over the last three months. Corporate insiders own 3.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in 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 valued at $151,000 after buying an additional 91 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Columbus McKinnon Corporation during the fourth quarter valued at about $212,000. Trexquant Investment LP boosted its stake in shares of Columbus McKinnon Corporation by 42.9% in the first quarter. Trexquant Investment LP now owns 11,164 shares of the industrial products company’s stock valued at $277,000 after buying an additional 3,352 shares in the last quarter. 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 valued at $297,000 after buying an additional 795 shares in the last quarter. Finally, Alambic Investment Management L.P. boosted its stake in shares of Columbus McKinnon Corporation by 26.8% in the first quarter. Alambic Investment Management L.P. now owns 12,425 shares of the industrial products company’s stock valued at $308,000 after buying an additional 2,625 shares in the last quarter. 84.87% of the stock is owned by institutional investors.

Columbus McKinnon Corporation Company Profile

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