Columbus McKinnon (NASDAQ:CMCO) Reaches New 1-Year Low – What’s Next?

Columbus McKinnon Co. (NASDAQ:CMCO)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.22 and last traded at $17.66, with a volume of 21417 shares trading hands. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

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

Columbus McKinnon Stock Performance

The stock has a market cap of $498.72 million, a PE ratio of 52.82 and a beta of 1.22. The company has a fifty day moving average price of $31.94 and a 200 day moving average price of $33.85. 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 released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 EPS 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%. Analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.61%. Columbus McKinnon’s dividend payout ratio is presently 84.85%.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 5,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the acquisition, the director now directly owns 11,014 shares in the company, valued at approximately $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 this link. 1.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CMCO. Vanguard Group Inc. grew its holdings in shares of Columbus McKinnon by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock worth $60,034,000 after acquiring an additional 19,550 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Columbus McKinnon by 13.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock worth $57,646,000 after acquiring an additional 184,615 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Columbus McKinnon by 8.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after acquiring an additional 74,831 shares during the period. Systematic Financial Management LP grew its holdings in shares of Columbus McKinnon by 6.0% during the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock worth $30,875,000 after acquiring an additional 46,806 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after acquiring an additional 398,826 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.