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

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Monday, October 21st, RTT News reports. Investors of record on Friday, November 8th will be given a dividend of 0.07 per share by the industrial products company on Monday, November 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.85%.

Columbus McKinnon has raised its dividend payment by an average of 5.3% per year over the last three years. Columbus McKinnon has a payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbus McKinnon to earn $3.41 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 8.2%.

Columbus McKinnon Stock Down 1.8 %

Shares of NASDAQ CMCO opened at $33.07 on Wednesday. The firm’s 50-day moving average is $33.31 and its two-hundred day moving average is $36.73. The company has a market capitalization of $954.37 million, a PE ratio of 20.41 and a beta of 1.17. Columbus McKinnon has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $239.73 million for the quarter, compared to analyst estimates of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. Columbus McKinnon’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Equities analysts anticipate that Columbus McKinnon will post 3.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

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.