Columbus McKinnon Corporation (NASDAQ:CMCO) Announces $0.07 Quarterly Dividend

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) declared a quarterly dividend on Monday, July 21st, RTT News reports. Stockholders of record on Friday, August 8th will be paid a dividend of 0.07 per share by the industrial products company on Monday, August 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.86%.

Columbus McKinnon has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.5%.

Columbus McKinnon Stock Performance

Columbus McKinnon stock traded down $0.22 during trading hours on Monday, hitting $15.04. The stock had a trading volume of 302,093 shares, compared to its average volume of 387,707. Columbus McKinnon has a fifty-two week low of $11.78 and a fifty-two week high of $41.05. The company has a market cap of $431.47 million, a PE ratio of -88.47 and a beta of 1.28. The company has a 50-day moving average of $15.88 and a two-hundred day moving average of $19.97. The company has a quick ratio of 1.04, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.

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 for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $250.05 million. Columbus McKinnon had a positive return on equity of 8.13% and a negative net margin of 0.53%. The firm's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities research analysts anticipate that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbus McKinnon

A hedge fund recently raised its stake in Columbus McKinnon stock. Goldman Sachs Group Inc. grew its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,847 shares of the industrial products company's stock after purchasing an additional 10,780 shares during the period. Goldman Sachs Group Inc. owned approximately 0.77% of Columbus McKinnon worth $3,739,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 95.96% of the company's stock.

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.

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