Columbus McKinnon Corporation (NASDAQ:CMCO) to Issue Quarterly Dividend of $0.07

Key Points

• Columbus McKinnon Corporation announced a quarterly dividend of $0.07 per share, payable on November 17th to stockholders of record by November 7th, representing a dividend yield of 1.8%.
• The company has a low payout ratio of 9.5%, indicating that its dividend payments are well-covered by earnings.
• Columbus McKinnon’s stock was trading at $15.15, showing a 3.1% increase, with recent analysis suggesting mixed ratings from equities analysts, including a "buy" rating and a "sell" rating.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) declared a quarterly dividend on Monday, October 20th. Stockholders of record on Friday, November 7th will be given a dividend of 0.07 per share by the industrial products company on Monday, November 17th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, November 7th.

Columbus McKinnon has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 3.1%

CMCO opened at $15.15 on Tuesday. Columbus McKinnon has a 52 week low of $11.78 and a 52 week high of $41.05. The business has a fifty day simple moving average of $14.84 and a 200-day simple moving average of $15.10. The firm has a market cap of $435.26 million, a P/E ratio of -28.06 and a beta of 1.26. The company has a quick ratio of 1.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.46.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share for the quarter. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%.The company had revenue of $166.55 million for the quarter. On average, equities analysts expect that Columbus McKinnon will post 2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CMCO shares. Wall Street Zen raised Columbus McKinnon from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Weiss Ratings reissued a "sell (d)" rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Columbus McKinnon has an average rating of "Reduce" and an average price target of $35.00.

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.

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