Columbus McKinnon Co. (NASDAQ:CMCO) Announces $0.07 Quarterly Dividend

Columbus McKinnon Co. (NASDAQ:CMCO) declared a quarterly dividend on Monday, March 24th, RTT News reports. Shareholders of record on Friday, May 2nd will be paid a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 annualized dividend and a yield of 1.49%.

Columbus McKinnon has increased its dividend payment by an average of 5.3% per year over the last three years. Columbus McKinnon has a payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbus McKinnon to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.5%.

Columbus McKinnon Trading Up 1.7 %

Shares of CMCO stock traded up $0.32 on Monday, hitting $18.78. The company had a trading volume of 319,458 shares, compared to its average volume of 281,913. The stock’s 50-day moving average is $25.85 and its two-hundred day moving average is $32.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The firm has a market cap of $537.35 million, a P/E ratio of 56.91 and a beta of 1.31. Columbus McKinnon has a twelve month low of $15.48 and a twelve month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (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%. On average, equities research analysts anticipate that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher J. Stephens purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $20.27 per share, with a total value of $101,350.00. Following the purchase, the director now owns 11,014 shares in the company, valued at $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn V. Bohl acquired 2,819 shares of Columbus McKinnon stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $17.99 per share, with a total value of $50,713.81. Following the purchase, the director now directly owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. This trade represents a 23.51 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 27,819 shares of company stock worth $473,064. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CMCO shares. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. DA Davidson reaffirmed a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

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.