Columbus McKinnon Co. (CMCO) To Go Ex-Dividend on November 8th

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Sunday, October 20th, RTT News reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.07 per share by the industrial products company on Monday, November 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 8th.

Columbus McKinnon has increased its dividend by an average of 5.3% annually over the last three years. Columbus McKinnon has a payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.3%.

Columbus McKinnon Trading Up 7.0 %

Shares of CMCO stock opened at $33.63 on Wednesday. The stock has a market capitalization of $964.84 million, a price-to-earnings ratio of 63.45 and a beta of 1.19. The company’s fifty day simple moving average is $33.18 and its two-hundred day simple moving average is $36.14. Columbus McKinnon has a 1 year low of $29.26 and a 1 year high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Insider Buying and Selling

In other news, CEO David J. Wilson purchased 31,300 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the transaction, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.98% of the stock is owned by company insiders.

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.