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

Columbus McKinnon Co. (NASDAQ:CMCO) declared a quarterly dividend on Monday, October 21st, RTT News reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.07 per share by the industrial products company on Monday, November 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.82%.

Columbus McKinnon has raised its dividend by an average of 5.3% annually over the last three years. Columbus McKinnon has a dividend payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Columbus McKinnon to earn $3.41 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 8.2%.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $34.24 on Monday. The firm has a market cap of $988.13 million, a price-to-earnings ratio of 21.22 and a beta of 1.17. Columbus McKinnon has a 1 year low of $29.26 and a 1 year high of $45.84. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $33.27 and a 200 day simple moving average of $36.89.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $239.73 million during the quarter, compared to the consensus estimate of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. As a group, sell-side analysts predict that Columbus McKinnon will post 3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

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.