Columbus McKinnon Co. (NASDAQ:CMCO) Director Purchases $50,713.81 in Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Kathryn V. Bohl acquired 2,819 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the purchase, the director now directly owns 14,812 shares in the company, valued at $266,467.88. This trade represents a 23.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Columbus McKinnon Stock Down 1.4 %

Shares of NASDAQ CMCO opened at $18.46 on Friday. The stock has a market capitalization of $528.20 million, a price-to-earnings ratio of 55.94 and a beta of 1.31. Columbus McKinnon Co. has a 52 week low of $15.48 and a 52 week high of $45.84. The firm has a 50-day moving average price of $25.85 and a 200 day moving average price of $32.12. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

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 analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. Equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is 84.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 810 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Columbus McKinnon during the third quarter worth about $155,000. Park Avenue Securities LLC purchased a new stake in shares of Columbus McKinnon in the fourth quarter valued at about $239,000. Freestone Grove Partners LP acquired a new stake in shares of Columbus McKinnon in the fourth quarter valued at approximately $242,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Columbus McKinnon during the 4th quarter worth approximately $250,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.