Columbus McKinnon Corp. (NASDAQ:CMCO) CEO Sells $85,048.98 in Stock

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Columbus McKinnon Corp. (NASDAQ:CMCO) CEO Mark D. Morelli sold 2,298 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $37.01, for a total transaction of $85,048.98. Following the completion of the sale, the chief executive officer now directly owns 17,111 shares of the company’s stock, valued at $633,278.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NASDAQ:CMCO opened at $36.24 on Friday. The company has a 50-day simple moving average of $37.79 and a 200-day simple moving average of $37.41. Columbus McKinnon Corp. has a one year low of $30.76 and a one year high of $43.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.10 and a current ratio of 1.76. The stock has a market capitalization of $878.08 million, a price-to-earnings ratio of 12.86, a PEG ratio of 1.14 and a beta of 1.73.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Columbus McKinnon had a net margin of 8.39% and a return on equity of 15.06%. The business had revenue of $199.36 million during the quarter, compared to analysts’ expectations of $201.24 million. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. As a group, research analysts forecast that Columbus McKinnon Corp. will post 2.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be issued a $0.06 dividend. The ex-dividend date is Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.66%. Columbus McKinnon’s payout ratio is 8.76%.

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in Columbus McKinnon by 35.8% in the first quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock worth $21,853,000 after purchasing an additional 167,700 shares in the last quarter. Morgan Stanley grew its stake in Columbus McKinnon by 244.7% in the second quarter. Morgan Stanley now owns 164,523 shares of the industrial products company’s stock worth $6,905,000 after purchasing an additional 116,788 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Columbus McKinnon in the second quarter worth approximately $6,465,000. Bowling Portfolio Management LLC bought a new position in Columbus McKinnon in the third quarter worth approximately $425,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in Columbus McKinnon by 115.6% in the third quarter. Campbell & CO Investment Adviser LLC now owns 18,106 shares of the industrial products company’s stock worth $660,000 after purchasing an additional 9,707 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on CMCO. Zacks Investment Research cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Dougherty & Co reaffirmed a “buy” rating on shares of Columbus McKinnon in a report on Friday, November 8th. BidaskClub cut shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a report on Saturday, February 1st. Barrington Research started coverage on shares of Columbus McKinnon in a report on Tuesday, December 17th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, ValuEngine raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.00.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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