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Shares of Columbus McKinnon Co. (NASDAQ:CMCO - Get Rating) gapped down before the market opened on Wednesday after DA Davidson lowered their price target on the stock from $45.00 to $40.00. The stock had previously closed at $27.46, but opened at $26.31. DA Davidson currently has a buy rating on the stock. Columbus McKinnon shares last traded at $26.34, with a volume of 257 shares trading hands.
Several other brokerages also recently commented on CMCO. Barrington Research reduced their target price on Columbus McKinnon from $50.00 to $48.00 and set an "outperform" rating for the company in a report on Thursday, July 28th. StockNews.com raised Columbus McKinnon from a "hold" rating to a "buy" rating in a research note on Friday, August 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.Institutional Investors Weigh In On Columbus McKinnon
Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. TimesSquare Capital Management LLC bought a new stake in shares of Columbus McKinnon in the first quarter valued at about $17,791,000. GW&K Investment Management LLC raised its stake in Columbus McKinnon by 23.4% in the first quarter. GW&K Investment Management LLC now owns 1,109,607 shares of the industrial products company's stock valued at $47,047,000 after buying an additional 210,089 shares during the period. Westwood Holdings Group Inc. raised its stake in Columbus McKinnon by 30.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 725,231 shares of the industrial products company's stock valued at $33,549,000 after buying an additional 168,462 shares during the period. Millennium Management LLC bought a new stake in Columbus McKinnon in the second quarter valued at approximately $4,663,000. Finally, Assenagon Asset Management S.A. bought a new stake in Columbus McKinnon in the second quarter valued at approximately $3,543,000. 96.85% of the stock is owned by institutional investors and hedge funds. Columbus McKinnon Stock Down 4.0 %
The company has a quick ratio of 1.16, a current ratio of 2.02 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $30.74 and a 200-day simple moving average of $33.07. The stock has a market cap of $754.69 million, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 0.46 and a beta of 1.26.
Columbus McKinnon (NASDAQ:CMCO - Get Rating) last posted its earnings results on Thursday, July 28th. The industrial products company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.60 by $0.09. Columbus McKinnon had a return on equity of 10.76% and a net margin of 4.96%. The company had revenue of $220.29 million for the quarter, compared to the consensus estimate of $228.04 million. On average, equities research analysts forecast that Columbus McKinnon Co. will post 2.91 earnings per share for the current fiscal year. Columbus McKinnon Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, August 5th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, August 4th. Columbus McKinnon's dividend payout ratio is presently 17.83%. About Columbus McKinnon (Get Rating)
Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.Read MoreGet a free copy of the StockNews.com research report on Columbus McKinnon (CMCO)Too Soon: 3 Reasons to Wait on DocuSign StockRite-Aid Sings a Familiar Tune That Investors Don’t Want to Hear Don't Give Up on These Q3 LosersThe Anatomy of a Great Pension Plan3 Safe Earnings Plays for a Risk-Off Market
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