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 company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $16.05 per share, with a total value of $321,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $321,000. This represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Columbus McKinnon Price Performance

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

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

Columbus McKinnon Dividend Announcement

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

Analyst Upgrades and Downgrades

CMCO has been the topic of several research analyst reports. StockNews.com cut 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 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

Hedge Funds Weigh In On Columbus McKinnon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. bought a new position in Columbus McKinnon in the fourth quarter valued at approximately $26,416,000. Asset Management One Co. Ltd. boosted its stake in Columbus McKinnon by 146.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 75,857 shares of the industrial products company’s stock valued at $2,840,000 after acquiring an additional 45,073 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position 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 purchasing an additional 14,018 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Columbus McKinnon by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock worth $14,067,000 after purchasing an additional 18,802 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Columbus McKinnon by 72.2% during the fourth quarter. Fisher Asset Management LLC now owns 406,968 shares of the industrial products company’s stock worth $15,155,000 after purchasing an additional 170,595 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

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.