Columbus McKinnon (NASDAQ:CMCO) Shares Gap Up to $30.60

Columbus McKinnon Co. (NASDAQ:CMCO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $30.60, but opened at $31.76. Columbus McKinnon shares last traded at $31.76, with a volume of 796 shares changing hands.

Analyst Ratings Changes

CMCO has been the subject of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on Columbus McKinnon in a report on Tuesday, June 4th. They issued an “overweight” rating and a $53.00 price target for the company. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Columbus McKinnon Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20. The stock has a market cap of $913.10 million, a P/E ratio of 19.60 and a beta of 1.18. The firm’s fifty day moving average price is $34.07 and its two-hundred day moving average price is $38.24.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $239.73 million for the quarter, compared to analyst estimates of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. As a group, equities research analysts forecast that Columbus McKinnon Co. will post 3.02 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in Columbus McKinnon in the 4th quarter worth $987,000. Foundry Partners LLC increased its position in Columbus McKinnon by 23.9% during the 1st quarter. Foundry Partners LLC now owns 121,625 shares of the industrial products company’s stock valued at $5,428,000 after purchasing an additional 23,460 shares during the period. Boston Partners purchased a new stake in shares of Columbus McKinnon in the 1st quarter worth about $847,000. First Eagle Investment Management LLC boosted its stake in shares of Columbus McKinnon by 11.7% during the 1st quarter. First Eagle Investment Management LLC now owns 184,281 shares of the industrial products company’s stock valued at $8,224,000 after purchasing an additional 19,350 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Columbus McKinnon during the first quarter valued at about $3,791,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.