Key Points
- Insider sale: Director Jon Adams sold 5,185 shares at an average price of $23.28 for about $120,707, reducing his stake by ~35.6% to 9,366 shares (SEC filing).
- Recent results and dividend: Columbus McKinnon beat expectations with $0.62 EPS and $258.66M revenue (revenue +10.5% YoY) and declared a $0.07 quarterly dividend ($0.28 annualized, ~1.3% yield).
- Market view and ownership: The company has a $609M market cap and a high P/E (~100.9), analysts’ consensus is an average "Hold" with a $20 target, and institutional investors own about 96% of the stock.
Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) insider Jon Adams sold 5,185 shares of Columbus McKinnon stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total value of $120,706.80. Following the completion of the sale, the insider directly owned 9,366 shares of the company's stock, valued at approximately $218,040.48. This represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Columbus McKinnon Stock Performance
Columbus McKinnon stock opened at $21.19 on Friday. The stock has a fifty day moving average price of $19.43 and a 200 day moving average price of $16.60. The firm has a market capitalization of $609.00 million, a P/E ratio of 100.90 and a beta of 1.33. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $24.40. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The firm had revenue of $258.66 million for the quarter, compared to analysts' expectations of $241.60 million. During the same period in the previous year, the company posted $0.56 earnings per share. Columbus McKinnon's revenue was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.
Columbus McKinnon Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, February 13th. Columbus McKinnon's dividend payout ratio is currently 133.33%.
Institutional Trading of Columbus McKinnon
Several institutional investors have recently added to or reduced their stakes in CMCO. AQR Capital Management LLC grew its holdings in Columbus McKinnon by 32.4% during the 1st quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company's stock worth $2,091,000 after acquiring an additional 30,255 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Columbus McKinnon by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company's stock worth $3,739,000 after purchasing an additional 10,780 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Columbus McKinnon in the second quarter worth about $869,000. Inspire Investing LLC grew its stake in Columbus McKinnon by 25.0% in the second quarter. Inspire Investing LLC now owns 25,535 shares of the industrial products company's stock worth $390,000 after purchasing an additional 5,104 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Columbus McKinnon in the second quarter valued at about $175,000. 95.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CMCO has been the subject of several analyst reports. CJS Securities raised Columbus McKinnon to a "strong-buy" rating in a research report on Thursday, December 11th. DA Davidson set a $20.00 price target on Columbus McKinnon in a report on Thursday. Finally, Wall Street Zen lowered shares of Columbus McKinnon from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.00.
Read Our Latest Research Report on CMCO
About Columbus McKinnon
(
Get Free Report)
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company's product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.
With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.
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