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

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Monday, March 24th, RTT News reports. Investors of record on Friday, May 2nd will be given a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 annualized dividend and a yield of 1.49%.

Columbus McKinnon has raised its dividend payment by an average of 5.3% annually over the last three years. Columbus McKinnon has a payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Columbus McKinnon to earn $2.95 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 9.5%.

Columbus McKinnon Price Performance

Shares of CMCO stock traded up $0.32 during trading on Monday, hitting $18.78. The company had a trading volume of 319,458 shares, compared to its average volume of 281,913. The firm has a market capitalization of $537.35 million, a P/E ratio of 56.91 and a beta of 1.31. Columbus McKinnon has a one year low of $15.48 and a one year high of $45.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The stock’s 50-day moving average price is $25.85 and its 200 day moving average price is $32.12.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. Equities analysts expect that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Chad R. Abraham acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $16.05 per share, with a total value of $321,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $321,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathryn V. Bohl bought 2,819 shares of the stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $17.99 per share, with a total value of $50,713.81. Following the acquisition, the director now owns 14,812 shares in the company, valued at approximately $266,467.88. This represents a 23.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 27,819 shares of company stock worth $473,064. Corporate insiders own 1.98% of the company’s stock.

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.