Columbus McKinnon (NASDAQ:CMCO) Reaches New 1-Year Low – What’s Next?

Columbus McKinnon Co. (NASDAQ:CMCO)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.22 and last traded at $17.66, with a volume of 21417 shares. The stock had previously closed at $17.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. DA Davidson restated a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Columbus McKinnon Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The stock has a fifty day moving average price of $31.94 and a two-hundred day moving average price of $33.85. The company has a market cap of $498.72 million, a P/E ratio of 52.82 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. On average, research analysts expect that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 7th. Columbus McKinnon’s payout ratio is 84.85%.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $20.27 per share, with a total value of $101,350.00. Following the completion of the transaction, the director now owns 11,014 shares of the company’s stock, valued at $223,253.78. The trade was a 83.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Columbus McKinnon

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Columbus McKinnon by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock worth $60,034,000 after buying an additional 19,550 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Columbus McKinnon by 13.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock worth $57,646,000 after buying an additional 184,615 shares during the last quarter. Lord Abbett & CO. LLC increased its position in Columbus McKinnon by 8.1% in the third quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after buying an additional 74,831 shares during the last quarter. Systematic Financial Management LP increased its position in Columbus McKinnon by 6.0% in the fourth quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock worth $30,875,000 after buying an additional 46,806 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Columbus McKinnon by 117.8% in the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after buying an additional 398,826 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.