Columbus McKinnon Co. (NASDAQ:CMCO) Director Purchases $101,350.00 in Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Christopher J. Stephens purchased 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the purchase, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. The trade was a 83.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Columbus McKinnon Stock Performance

Shares of NASDAQ CMCO opened at $20.48 on Friday. The stock has a market cap of $587.57 million, a PE ratio of 38.64 and a beta of 1.22. Columbus McKinnon Co. has a 1 year low of $19.55 and a 1 year high of $45.84. The firm has a fifty day moving average price of $35.48 and a 200-day moving average price of $34.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16.

Columbus McKinnon (NASDAQ:CMCO) last issued 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 return on equity of 9.20% and a net margin of 1.51%. Equities analysts anticipate that Columbus McKinnon Co. will post 2.98 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be issued a $0.07 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.37%. Columbus McKinnon’s dividend payout ratio is presently 52.83%.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Columbus McKinnon by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock worth $60,034,000 after buying an additional 19,550 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Columbus McKinnon by 13.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock valued at $57,646,000 after acquiring an additional 184,615 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after purchasing an additional 74,831 shares in the last quarter. Systematic Financial Management LP boosted its holdings in shares of Columbus McKinnon by 12.0% during the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock valued at $28,162,000 after purchasing an additional 83,610 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Columbus McKinnon by 117.8% during the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after purchasing an additional 398,826 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCO has been the topic of several analyst reports. DA Davidson downgraded Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Tuesday, February 11th. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.