Insider Buying: Columbus McKinnon (NASDAQ:CMCO) EVP Buys 7,500 Shares

Key Points

• EVP John Linker purchased 7,500 Columbus McKinnon shares at an average price of $19.67, investing $147,525 and becoming the owner of 7,500 shares.
• Columbus McKinnon reported quarterly EPS of $0.61, beating estimates of $0.27, while revenue rose 125.3% year over year to $531.46 million.
• CMCO shares rose 6.1% to $21.35; analysts’ consensus rating is Hold, with an average price target of $23.00. The company also declared a quarterly dividend of $0.07 per share.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) EVP John Linker purchased 7,500 shares of the company's stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president owned 7,500 shares in the company, valued at approximately $147,525. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Columbus McKinnon Stock Up 6.1%

CMCO stock traded up $1.23 on Tuesday, reaching $21.35. 129,188 shares of the company traded hands, compared to its average volume of 529,938. The firm has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $16.37. The company has a market cap of $615.58 million, a P/E ratio of -2.87 and a beta of 1.37. Columbus McKinnon Corporation has a one year low of $11.99 and a one year high of $24.40. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.34. The firm had revenue of $531.46 million for the quarter, compared to analysts' expectations of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The company's quarterly revenue was up 125.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Research analysts anticipate that Columbus McKinnon Corporation will post 2 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.3%. Columbus McKinnon's payout ratio is -3.75%.

Institutional Trading of Columbus McKinnon

A number of large investors have recently made changes to their positions in CMCO. Signaturefd LLC lifted its position in Columbus McKinnon by 18.1% during the fourth quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 545 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Columbus McKinnon by 48.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company's stock worth $30,000 after purchasing an additional 565 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of Columbus McKinnon by 4.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company's stock worth $346,000 after purchasing an additional 850 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Columbus McKinnon by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company's stock worth $166,000 after purchasing an additional 852 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 918 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CMCO shares. JPMorgan Chase & Co. raised their price target on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday. DA Davidson decreased their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, June 15th. Wall Street Zen downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings cut Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday. Finally, Zacks Research downgraded Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $23.00.

Columbus McKinnon Company Profile

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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