Columbus McKinnon Corporation (NASDAQ:CMCO) Plans Quarterly Dividend of $0.07

Columbus McKinnon Corporation (NASDAQ:CMCO) declared a quarterly dividend on Monday, March 23rd. Shareholders of record on Friday, May 1st will be given a dividend of 0.07 per share by the industrial products company on Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 1st.

Columbus McKinnon has increased its dividend payment by an average of 0.0%annually over the last three years. Columbus McKinnon has a dividend payout ratio of 9.5% indicating that 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 Trading Up 4.7%

CMCO opened at $14.54 on Tuesday. Columbus McKinnon has a 52 week low of $11.78 and a 52 week high of $24.40. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $19.18 and a 200-day simple moving average of $17.15. The firm has a market cap of $417.88 million, a P/E ratio of 69.24 and a beta of 1.32.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The firm had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same quarter in the previous year, the business earned $0.56 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Columbus McKinnon will post 2.69 earnings per share for the current year.

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total transaction of $120,706.80. Following the completion of the transaction, the insider owned 9,366 shares in the company, valued at $218,040.48. The trade was a 35.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Columbus McKinnon

Several large investors have recently bought and sold shares of CMCO. Hsbc Holdings PLC raised its stake in Columbus McKinnon by 93.9% in the fourth quarter. Hsbc Holdings PLC now owns 62,097 shares of the industrial products company’s stock valued at $1,080,000 after buying an additional 30,076 shares in the last quarter. Invesco Ltd. raised its position in shares of Columbus McKinnon by 0.4% during the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock worth $25,135,000 after acquiring an additional 5,210 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Columbus McKinnon during the fourth quarter worth approximately $273,000. Front Street Capital Management Inc. boosted its holdings in Columbus McKinnon by 2.4% in the fourth quarter. Front Street Capital Management Inc. now owns 213,785 shares of the industrial products company’s stock valued at $3,688,000 after purchasing an additional 4,918 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Columbus McKinnon in the fourth quarter valued at approximately $2,001,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

About Columbus McKinnon

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.