Columbus McKinnon (NASDAQ:CMCO) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Columbus McKinnon Price Performance

CMCO opened at $20.50 on Tuesday. The stock’s 50-day moving average price is $35.87 and its 200 day moving average price is $34.98. Columbus McKinnon has a 12-month low of $19.55 and a 12-month high of $45.84. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The firm has a market cap of $588.15 million, a price-to-earnings ratio of 38.68 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO) last posted its 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 9.20% and a net margin of 1.51%. As a group, sell-side analysts expect that Columbus McKinnon will post 2.98 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon’s payout ratio is 52.83%.

Institutional Investors Weigh In On Columbus McKinnon

A number of hedge funds have recently bought and sold shares of CMCO. Mascoma Wealth Management LLC acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $25,000. Sterling Capital Management LLC raised its position in Columbus McKinnon by 810.0% in the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 810 shares in the last quarter. Palouse Capital Management Inc. acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $144,000. Millburn Ridgefield Corp acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $155,000. Finally, Park Avenue Securities LLC acquired a new stake in Columbus McKinnon in the 4th quarter valued at about $239,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Columbus McKinnon

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.