Columbus McKinnon (NASDAQ:CMCO) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

by · The Markets Daily

Columbus McKinnon (NASDAQ:CMCO – Get Free Report) posted its quarterly earnings data on Monday. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05, Zacks reports. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%.

Columbus McKinnon Trading Up 0.6%

Shares of NASDAQ CMCO traded up $0.14 during mid-day trading on Monday, hitting $22.90. The stock had a trading volume of 518,559 shares, compared to its average volume of 429,329. Columbus McKinnon has a 1 year low of $11.78 and a 1 year high of $35.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.81. The business has a 50 day moving average price of $18.96 and a two-hundred day moving average price of $16.43. The firm has a market cap of $657.92 million, a P/E ratio of 163.58 and a beta of 1.33.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, February 13th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Trading of Columbus McKinnon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Columbus McKinnon by 3.4% in the third quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock valued at $26,873,000 after acquiring an additional 62,267 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Columbus McKinnon by 22.6% during the 3rd quarter. Invesco Ltd. now owns 1,451,885 shares of the industrial products company’s stock worth $20,820,000 after acquiring an additional 267,585 shares during the period. Millennium Management LLC raised its position in shares of Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after acquiring an additional 379,096 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Columbus McKinnon by 100.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after purchasing an additional 415,275 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Columbus McKinnon by 1.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 773,176 shares of the industrial products company’s stock valued at $11,087,000 after purchasing an additional 8,344 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

CMCO has been the subject of a number of analyst reports. DA Davidson set a $15.00 price target on Columbus McKinnon in a report on Thursday, January 15th. Wall Street Zen cut shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Columbus McKinnon has a consensus rating of “Hold” and an average target price of $15.00.

View Our Latest Stock Analysis on Columbus McKinnon

Columbus McKinnon Company Profile

(Get Free Report)

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.

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