Columbus McKinnon (NASDAQ:CMCO) Reaches New 52-Week Low – Should You Sell?

Columbus McKinnon Co. (NASDAQ:CMCO) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $19.49 and last traded at $19.30, with a volume of 163133 shares traded. The stock had previously closed at $20.08.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMCO. DA Davidson reissued a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Columbus McKinnon Price Performance

The business has a 50-day moving average of $33.51 and a two-hundred day moving average of $34.27. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market cap of $540.73 million, a P/E ratio of 57.27 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share 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%. On average, sell-side analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio is currently 84.85%.

Insider Buying and Selling at Columbus McKinnon

In other news, Director Christopher J. Stephens purchased 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the acquisition, the director now owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Columbus McKinnon by 13.5% during 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 purchasing an additional 184,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Columbus McKinnon by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,394 shares of the industrial products company’s stock worth $2,510,000 after acquiring an additional 11,585 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Columbus McKinnon by 55.2% in the fourth quarter. Squarepoint Ops LLC now owns 64,823 shares of the industrial products company’s stock worth $2,414,000 after purchasing an additional 23,053 shares during the period. Systematic Financial Management LP increased its stake 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 valued at $30,875,000 after purchasing an additional 46,806 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Columbus McKinnon during the fourth quarter valued at about $298,000. 95.96% of the stock is owned by institutional investors.

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.