Insider Buying: Columbus McKinnon Co. (NASDAQ:CMCO) Director Purchases 1,000 Shares of Stock

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) Director Rebecca Yeung bought 1,000 shares of Columbus McKinnon stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $15.03 per share, with a total value of $15,030.00. Following the completion of the transaction, the director now directly owns 7,682 shares in the company, valued at approximately $115,460.46. This trade represents a 14.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Columbus McKinnon Stock Performance

NASDAQ CMCO traded up $0.50 during trading on Friday, hitting $15.35. 403,406 shares of the company's stock traded hands, compared to its average volume of 371,413. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The stock has a market capitalization of $439.50 million, a price-to-earnings ratio of 46.52 and a beta of 1.28. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $41.05. The business has a 50 day moving average of $15.17 and a 200-day moving average of $24.94.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $250.05 million. Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. The company's quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Friday, May 2nd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon's dividend payout ratio (DPR) is presently -164.71%.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Columbus McKinnon by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company's stock valued at $60,034,000 after buying an additional 19,550 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Columbus McKinnon by 13.5% in the fourth 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 period. Invesco Ltd. grew its stake in Columbus McKinnon by 177.5% during the first quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock valued at $21,388,000 after acquiring an additional 808,110 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Columbus McKinnon by 37.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock worth $16,513,000 after acquiring an additional 266,020 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Columbus McKinnon by 6.0% during the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company's stock worth $30,875,000 after acquiring an additional 46,806 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CMCO has been the topic of several research analyst reports. DA Davidson reiterated a "neutral" rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. Wall Street Zen lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research note 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.