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

Columbus McKinnon Corporation (NASDAQ:CMCO) announced a quarterly dividend on Monday, July 20th. Shareholders of record on Friday, August 7th will be given a dividend of 0.07 per share by the industrial products company on Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 7th.

Columbus McKinnon has raised its dividend by an average of 0.0%annually over the last three years. Columbus McKinnon has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbus McKinnon to earn $2.48 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 11.3%.

Columbus McKinnon Stock Down 0.2%

Shares of NASDAQ:CMCO opened at $14.33 on Tuesday. The company has a market capitalization of $413.13 million, a PE ratio of -2.61 and a beta of 1.39. The company has a current ratio of 2.02, a quick ratio of 0.98 and a debt-to-equity ratio of 3.38. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40. The firm has a 50 day simple moving average of $14.30 and a 200-day simple moving average of $16.49.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The company had revenue of $437.83 million during the quarter, compared to analysts’ expectations of $419.56 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The company’s quarterly revenue was up 77.3% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, equities analysts predict that Columbus McKinnon will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently made changes to their positions in CMCO. Marshall Wace LLP grew its stake in shares of Columbus McKinnon by 698.6% in the 3rd quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after purchasing an additional 635,770 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Columbus McKinnon by 76.8% during the fourth quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after purchasing an additional 481,470 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Columbus McKinnon by 100.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock worth $11,900,000 after purchasing an additional 415,275 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after purchasing an additional 379,096 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth $6,395,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.