Columbus McKinnon (NASDAQ:CMCO) Releases Earnings Results

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) released its quarterly earnings results on Wednesday. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02, Zacks reports. The company had revenue of $248.00 million for the quarter, compared to analysts' expectations of $250.05 million. Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. The business's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share.

Columbus McKinnon Trading Down 4.1%

CMCO stock traded down $0.62 during trading on Friday, hitting $14.65. The company had a trading volume of 1,567,917 shares, compared to its average volume of 361,733. The business has a 50-day moving average of $15.50 and a 200-day moving average of $25.86. Columbus McKinnon has a one year low of $11.78 and a one year high of $41.05. The stock has a market cap of $419.18 million, a PE ratio of 44.39 and a beta of 1.33. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Friday, May 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon's payout ratio is presently 84.85%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMCO. DA Davidson restated a "neutral" rating and set a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday, February 18th. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Kathryn V. Bohl purchased 2,819 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the acquisition, the director now owns 14,812 shares of the company's stock, valued at approximately $266,467.88. This represents a 23.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chad R. Abraham purchased 20,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbus McKinnon

An institutional investor recently raised its position in Columbus McKinnon stock. AQR Capital Management LLC grew its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 32.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,498 shares of the industrial products company's stock after buying an additional 30,255 shares during the period. AQR Capital Management LLC owned approximately 0.43% of Columbus McKinnon worth $2,091,000 as of its most recent filing with the SEC. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.