Columbus McKinnon Co. (NASDAQ:CMCO) Director Acquires $321,000.00 in Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Chad R. Abraham acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $16.05 per share, with a total value of $321,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $321,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Columbus McKinnon Stock Up 5.5 %

Shares of CMCO opened at $17.94 on Friday. The company has a 50-day simple moving average of $29.89 and a 200-day simple moving average of $33.30. The firm has a market capitalization of $513.32 million, a P/E ratio of 54.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. Columbus McKinnon Co. has a 52 week low of $15.48 and a 52 week high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. On average, equities research analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 84.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMCO shares. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. DA Davidson restated a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday, February 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CMCO. Creative Planning acquired a new position in Columbus McKinnon in the third quarter worth about $369,000. Raymond James & Associates increased its holdings in shares of Columbus McKinnon by 14.4% during the third quarter. Raymond James & Associates now owns 73,087 shares of the industrial products company’s stock worth $2,631,000 after buying an additional 9,179 shares in the last quarter. US Bancorp DE increased its holdings in shares of Columbus McKinnon by 33.1% during the third quarter. US Bancorp DE now owns 22,374 shares of the industrial products company’s stock worth $805,000 after buying an additional 5,568 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Columbus McKinnon by 31.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock worth $2,104,000 after buying an additional 14,018 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Columbus McKinnon by 22.4% during the third quarter. Chartwell Investment Partners LLC now owns 345,855 shares of the industrial products company’s stock worth $12,451,000 after buying an additional 63,331 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

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.