Columbus McKinnon (NASDAQ:CMCO) EVP John Linker Buys 7,500 Shares

Columbus McKinnon Corporation (NASDAQ:CMCOGet Free Report) EVP John Linker bought 7,500 shares of Columbus McKinnon stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $19.67 per share, with a total value of $147,525.00. Following the purchase, the executive vice president owned 7,500 shares of the company’s stock, valued at $147,525. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Columbus McKinnon Stock Up 7.3%

CMCO opened at $21.59 on Wednesday. The company has a market capitalization of $623.09 million, a P/E ratio of -2.89 and a beta of 1.37. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $16.38. Columbus McKinnon Corporation has a fifty-two week low of $11.99 and a fifty-two week high of $24.40.

Columbus McKinnon (NASDAQ:CMCOGet Free Report) last released 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 positive return on equity of 10.02% and a negative net margin of 21.25%.The company 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 company posted $0.50 EPS. The company’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. On average, analysts anticipate that Columbus McKinnon Corporation will post 2 EPS for the current year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be given a $0.07 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Columbus McKinnon’s payout ratio is -3.75%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CMCO shares. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Weiss Ratings lowered Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, DA Davidson cut their price objective on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.00.

View Our Latest Research Report on Columbus McKinnon

Hedge Funds Weigh In On Columbus McKinnon

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Columbus McKinnon by 48.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 565 shares during the last quarter. Group One Trading LLC raised its position in Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position 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 last quarter. Tower Research Capital LLC TRC lifted its holdings in Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after buying an additional 918 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

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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