Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts give Columbus McKinnon a consensus rating of “Hold” from five covering firms (2 sells, 1 hold, 1 buy, 1 strong buy) with an average 1‑year price target of $23.50.
• Insider Jon Adams sold 5,185 shares (a 35.63% reduction in his position); insiders own 2.26% of the stock while institutional investors hold about 95.96%.
• The company reported a slight Q4 earnings beat (EPS $0.62 vs. $0.61 expected) and revenue of $258.66M (+10.5% YoY), and announced a $0.07 quarterly dividend ($0.28 annualized, 1.9% yield) with a payout ratio of 133.33%.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) has been given an average recommendation of "Hold" by the five analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $23.50.

A number of equities research analysts have issued reports on CMCO shares. CJS Securities raised shares of Columbus McKinnon to a "strong-buy" rating in a report on Thursday, December 11th. Zacks Research lowered shares of Columbus McKinnon from a "hold" rating to a "strong sell" rating in a report on Friday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Columbus McKinnon from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Wall Street Zen lowered shares of Columbus McKinnon from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 22nd. Finally, DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a report on Thursday, February 12th.

Insider Activity at Columbus McKinnon

In other news, insider Jon Adams sold 5,185 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total value of $120,706.80. Following the completion of the sale, the insider directly owned 9,366 shares of the company's stock, valued at approximately $218,040.48. This trade represents a 35.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.26% of the company's stock.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its position in shares of Columbus McKinnon by 93.9% in the 4th quarter. Hsbc Holdings PLC now owns 62,097 shares of the industrial products company's stock worth $1,080,000 after purchasing an additional 30,076 shares during the period. Invesco Ltd. lifted its position in shares of Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company's stock worth $25,135,000 after purchasing an additional 5,210 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Columbus McKinnon in the 4th quarter worth about $273,000. Front Street Capital Management Inc. lifted its position in shares of Columbus McKinnon by 2.4% in the 4th quarter. Front Street Capital Management Inc. now owns 213,785 shares of the industrial products company's stock worth $3,688,000 after purchasing an additional 4,918 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Columbus McKinnon in the 4th quarter worth about $2,001,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

Shares of Columbus McKinnon stock opened at $14.94 on Thursday. The firm has a market cap of $429.38 million, a PE ratio of 71.14 and a beta of 1.39. Columbus McKinnon has a 12-month low of $11.78 and a 12-month high of $24.40. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. The company's fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $17.09.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $258.66 million for the quarter, compared to analyst estimates of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The company's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities analysts expect that Columbus McKinnon will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Friday, May 1st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, May 1st. Columbus McKinnon's dividend payout ratio (DPR) is currently 133.33%.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company's product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.

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