Columbus McKinnon Co. (NASDAQ:CMCO) Director Chad R. Abraham Acquires 20,000 Shares of Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Chad R. Abraham acquired 20,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $321,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Columbus McKinnon Stock Up 3.8 %

Shares of NASDAQ CMCO opened at $16.55 on Thursday. Columbus McKinnon Co. has a 12-month low of $15.48 and a 12-month high of $45.84. The stock has a market cap of $473.55 million, a PE ratio of 50.15 and a beta of 1.22. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $30.72 and a 200 day moving average of $33.53.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. As a group, sell-side analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.69%. Columbus McKinnon’s dividend payout ratio (DPR) is 84.85%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMCO. DA Davidson restated a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Columbus McKinnon by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock worth $60,034,000 after purchasing an additional 19,550 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Columbus McKinnon by 13.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock worth $57,646,000 after buying an additional 184,615 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Columbus McKinnon by 8.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock worth $36,135,000 after buying an additional 74,831 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Columbus McKinnon by 6.0% during the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock worth $30,875,000 after buying an additional 46,806 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after buying an additional 398,826 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.