Insider Buying: Columbus McKinnon (NASDAQ:CMCO) Director Acquires 2,750 Shares of Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) Director Christopher Stephens acquired 2,750 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the acquisition, the director directly owned 22,317 shares in the company, valued at approximately $382,513.38. This represents a 14.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Columbus McKinnon Stock Up 1.7%

NASDAQ CMCO traded up $0.29 on Friday, hitting $17.62. The stock had a trading volume of 284,578 shares, compared to its average volume of 527,663. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-week high of $24.40. The business’s fifty day moving average price is $16.03 and its 200 day moving average price is $16.24. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The stock has a market cap of $508.51 million, a price-to-earnings ratio of -2.36 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. The firm had revenue of $531.46 million during the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The company’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities research analysts anticipate that Columbus McKinnon Corporation will post 2.05 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently -3.75%.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds have recently added to or reduced their stakes in the company. Van Den Berg Management I Inc. boosted its stake in Columbus McKinnon by 11.8% in the second quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock valued at $8,089,000 after acquiring an additional 56,282 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Columbus McKinnon by 18.2% in the second quarter. Hsbc Holdings PLC now owns 53,933 shares of the industrial products company’s stock valued at $797,000 after buying an additional 8,292 shares in the last quarter. Empowered Funds LLC acquired a new position in Columbus McKinnon in the 2nd quarter worth $4,011,000. Public Employees Retirement System of Ohio bought a new position in shares of Columbus McKinnon during the second quarter worth about $25,000. Finally, Palogic Value Management L.P. bought a new stake in Columbus McKinnon in the 2nd quarter valued at approximately $1,136,000. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CMCO. Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, DA Davidson cut their target price on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.