Key Points
- Insider buying: EVP John Linker purchased 7,500 Columbus McKinnon shares at an average price of $19.67, representing a total investment of $147,525.
- Strong quarterly results: The company reported adjusted earnings of $0.61 per share, beating estimates of $0.27, while revenue rose 125.3% year over year to $531.46 million.
- Mixed outlook: Analysts have assigned the stock an average “Hold” rating with a $23 price target. Columbus McKinnon also declared a quarterly dividend of $0.07 per share, yielding approximately 1.3% annually.
Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) EVP John Linker acquired 7,500 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $19.67 per share, with a total value of $147,525.00. Following the completion of the transaction, the executive vice president owned 7,500 shares of the company's stock, valued at approximately $147,525. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Columbus McKinnon Stock Performance
Shares of NASDAQ:CMCO opened at $21.59 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The stock has a market capitalization of $623.09 million, a P/E ratio of -2.89 and a beta of 1.37. The business has a 50-day moving average price of $14.88 and a two-hundred day moving average price of $16.38. Columbus McKinnon Corporation has a 1-year low of $11.99 and a 1-year high of $24.40.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. During the same period in the prior year, the business posted $0.50 earnings per share. Columbus McKinnon's revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities analysts predict that Columbus McKinnon Corporation will post 2 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, August 17th. Stockholders of record on Friday, August 7th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Columbus McKinnon's dividend payout ratio is -3.75%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. DA Davidson decreased their price objective on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, June 15th. Wall Street Zen lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Weiss Ratings cut Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday. Zacks Research lowered Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on Columbus McKinnon from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $23.00.
Check Out Our Latest Report on CMCO
Institutional Trading of Columbus McKinnon
A number of large investors have recently made changes to their positions in CMCO. Empowered Funds LLC raised its stake in Columbus McKinnon by 122.6% during the 1st quarter. Empowered Funds LLC now owns 262,129 shares of the industrial products company's stock worth $3,809,000 after buying an additional 144,351 shares during the period. Maverick Capital Ltd. acquired a new position in Columbus McKinnon in the first quarter valued at about $535,000. Quantinno Capital Management LP increased its holdings in shares of Columbus McKinnon by 25.8% in the first quarter. Quantinno Capital Management LP now owns 101,139 shares of the industrial products company's stock worth $1,470,000 after acquiring an additional 20,714 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Columbus McKinnon in the first quarter worth about $2,756,000. Finally, Van Den Berg Management I Inc. raised its position in shares of Columbus McKinnon by 26.2% during the first quarter. Van Den Berg Management I Inc. now owns 478,328 shares of the industrial products company's stock worth $6,950,000 after purchasing an additional 99,309 shares during the period. Institutional investors own 95.96% of the company's stock.
Columbus McKinnon Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].