Columbus McKinnon (NASDAQ:CMCO) Issues Quarterly Earnings Results

Columbus McKinnon (NASDAQ:CMCO) announced its quarterly earnings results on Monday. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18), Zacks reports. Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $20.87 on Wednesday. The firm has a market capitalization of $598.76 million, a P/E ratio of 39.38 and a beta of 1.22. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $36.65 and a 200 day moving average price of $35.18. Columbus McKinnon has a 52 week low of $19.61 and a 52 week high of $45.84.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, February 7th. Columbus McKinnon’s dividend payout ratio is currently 52.83%.

Insiders Place Their Bets

In related news, Director Christopher J. Stephens purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the purchase, the director now owns 6,014 shares of the company’s stock, valued at $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CMCO shares. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson downgraded shares of Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Tuesday.

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.