Columbus McKinnon (NASDAQ:CMCO) Stock Price Up 8.6% - Should You Buy?

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report)'s stock price rose 8.6% during mid-day trading on Tuesday . The stock traded as high as $17.83 and last traded at $17.82. Approximately 375,713 shares were traded during trading, a decline of 30% from the average daily volume of 538,945 shares. The stock had previously closed at $16.42.

Analysts Set New Price Targets

CMCO has been the subject of several research reports. DA Davidson reaffirmed a "neutral" rating and set a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th. Wall Street Zen downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Columbus McKinnon Trading Down 4.1%

The firm has a market capitalization of $419.46 million, a PE ratio of 44.39 and a beta of 1.33. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The business's fifty day moving average price is $15.42 and its 200 day moving average price is $25.62.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.75 earnings per share. As a group, analysts expect that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders 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 of this dividend was Friday, May 2nd. Columbus McKinnon's dividend payout ratio (DPR) is -164.71%.

Insider Buying and Selling at Columbus McKinnon

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

Institutional Trading of Columbus McKinnon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Columbus McKinnon by 1.2% in 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 during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Columbus McKinnon by 13.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company's stock worth $57,646,000 after purchasing an additional 184,615 shares during the period. Invesco Ltd. grew its holdings in shares of Columbus McKinnon by 177.5% during the 1st quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock worth $21,388,000 after purchasing an additional 808,110 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of 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 purchasing an additional 266,020 shares during the period. Finally, Systematic Financial Management LP grew its holdings in shares of 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 purchasing an additional 46,806 shares during the period. 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.