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

Columbus McKinnon Co. (NASDAQ:CMCO) declared a quarterly dividend on Monday, March 24th, RTT News reports. Investors of record on Friday, May 2nd will be given a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.49%.

Columbus McKinnon has raised its dividend payment by an average of 5.3% per year over the last three years. Columbus McKinnon has a dividend payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Columbus McKinnon to earn $2.95 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 9.5%.

Columbus McKinnon Price Performance

CMCO opened at $18.78 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. Columbus McKinnon has a 1 year low of $15.48 and a 1 year high of $45.84. The stock’s 50 day simple moving average is $25.53 and its 200 day simple moving average is $32.03. The firm has a market cap of $537.35 million, a price-to-earnings ratio of 56.91 and a beta of 1.31.

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 8.64% and a net margin of 0.95%. As a group, analysts predict that Columbus McKinnon will post 2.69 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Kathryn V. Bohl acquired 2,819 shares of Columbus McKinnon stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now owns 14,812 shares in the company, valued at $266,467.88. This trade represents a 23.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Stephens purchased 5,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $20.27 per share, with a total value of $101,350.00. Following the transaction, the director now directly owns 11,014 shares of the company’s stock, valued at $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 27,819 shares of company stock worth $473,064 in the last 90 days. Insiders own 1.98% 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.