Key Points
- Director Christopher Stephens bought 2,750 Columbus McKinnon shares at $17.14 each, investing $47,135 and increasing his holdings by 14.05% to 22,317 shares.
- Columbus McKinnon beat quarterly expectations, reporting $0.61 EPS versus $0.27 expected and $531.46 million in revenue, up 125.3% year over year.
- Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and a $23 price target versus the stock’s recent price near $17.62; institutional investors own 95.96% of shares.
Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) Director Christopher Stephens purchased 2,750 shares of the business's stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director owned 22,317 shares in the company, valued at approximately $382,513.38. This represents a 14.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Columbus McKinnon Stock Performance
Columbus McKinnon stock opened at $17.62 on Friday. The firm's fifty day moving average price is $16.11 and its 200-day moving average price is $16.25. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The stock has a market cap of $508.51 million, a P/E ratio of -2.36 and a beta of 1.37. Columbus McKinnon Corporation has a fifty-two week low of $11.99 and a fifty-two week high of $24.40.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.34. The company had revenue of $531.46 million during the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The firm's revenue was up 125.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts expect that Columbus McKinnon Corporation will post 2.05 earnings per share for the current fiscal year.
Columbus McKinnon Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.6%. Columbus McKinnon's payout ratio is -3.75%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of CMCO. Public Employees Retirement System of Ohio bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company's stock worth $30,000 after acquiring an additional 565 shares during the last quarter. Group One Trading LLC grew its position in Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company's stock worth $32,000 after acquiring an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company's stock worth $36,000 after purchasing an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company's stock worth $40,000 after purchasing an additional 1,893 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on CMCO shares. DA Davidson reduced their price objective on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, June 15th. Weiss Ratings downgraded Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Zacks Research raised Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.
Get Our Latest Report on CMCO
Columbus McKinnon Company Profile
(
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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.
Further Reading
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