Columbus McKinnon (NASDAQ:CMCO) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Columbus McKinnon Corporation (NASDAQ:CMCO)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.27 and traded as high as $18.40. Columbus McKinnon shares last traded at $17.69, with a volume of 315,335 shares trading hands.

Analysts Set New Price Targets

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

Columbus McKinnon Trading Up 1.7%

The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. The firm has a market capitalization of $508.51 million, a PE ratio of -2.36 and a beta of 1.37. The business’s fifty day moving average price is $16.03 and its 200 day moving average price is $16.24.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS 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 analysts’ expectations of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. Columbus McKinnon’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, analysts expect that Columbus McKinnon Corporation will post 2.05 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

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

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 2,750 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director 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 filing with the SEC, which is available at this link. Also, EVP John R. Linker purchased 7,500 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $19.67 per share, with a total value of $147,525.00. Following the acquisition, the executive vice president directly owned 7,500 shares in the company, valued at $147,525. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after buying an additional 565 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in Columbus McKinnon by 4.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 850 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Columbus McKinnon by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 852 shares during the last quarter. Royal Bank of Canada boosted its stake in Columbus McKinnon by 41.4% in the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 918 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 1,000 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.