Columbus McKinnon Co. (NASDAQ:CMCO) Director Rebecca Yeung Purchases 1,000 Shares

Columbus McKinnon Co. (NASDAQ:CMCO) Director Rebecca Yeung purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $15.03 per share, with a total value of $15,030.00. Following the completion of the acquisition, the director now directly owns 7,682 shares in the company, valued at $115,460.46. The trade was a 14.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Columbus McKinnon Trading Up 3.4%

Shares of CMCO stock opened at $15.35 on Friday. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $41.05. The company has a market capitalization of $439.50 million, a P/E ratio of 46.52 and a beta of 1.28. The firm has a 50-day moving average price of $15.17 and a 200 day moving average price of $24.94. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $250.05 million. During the same period last year, the firm posted $0.75 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Research analysts forecast 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 Monday, May 12th. Shareholders of record on Friday, May 2nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, May 2nd. Columbus McKinnon’s dividend payout ratio is presently -164.71%.

Hedge Funds Weigh In On Columbus McKinnon

A number of institutional investors have recently modified their holdings of CMCO. Sterling Capital Management LLC raised its stake in shares of Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 810 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Columbus McKinnon by 3,784.1% in the first quarter. Versant Capital Management Inc now owns 2,447 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 2,384 shares during the last quarter. Signaturefd LLC raised its stake in shares of Columbus McKinnon by 743.4% in the first quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 2,141 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Columbus McKinnon in the first quarter worth about $47,000. Finally, High Note Wealth LLC bought a new position in shares of Columbus McKinnon in the first quarter worth about $48,000. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. DA Davidson reissued a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday, February 18th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

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.