Columbus McKinnon (NASDAQ:CMCO) Sees Large Volume Increase – Still a Buy?

Columbus McKinnon Co. (NASDAQ:CMCO) shares saw strong trading volume on Wednesday . 389,270 shares were traded during mid-day trading, an increase of 15% from the previous session’s volume of 337,472 shares.The stock last traded at $20.04 and had previously closed at $20.87.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DA Davidson downgraded Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Tuesday. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday.

Columbus McKinnon Stock Performance

The company’s 50 day moving average is $35.87 and its 200 day moving average is $34.98. The firm has a market cap of $588.15 million, a P/E ratio of 38.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%. As a group, equities analysts predict that Columbus McKinnon Co. will post 2.98 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, February 7th. Columbus McKinnon’s dividend payout ratio is currently 52.83%.

Institutional Investors Weigh In On Columbus McKinnon

Hedge funds have recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC bought a new position in shares of Columbus McKinnon during the third quarter valued at $25,000. Sterling Capital Management LLC increased its holdings in Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 810 shares during the period. Palouse Capital Management Inc. bought a new position in Columbus McKinnon during the 3rd quarter worth $144,000. Millburn Ridgefield Corp acquired a new position in Columbus McKinnon during the 3rd quarter worth about $155,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Columbus McKinnon in the 4th quarter valued at about $239,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.