Zacks Investment Research downgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a research note issued to investors on Tuesday, April 10th.
According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “
Other research analysts have also issued reports about the stock. Roth Capital boosted their price target on shares of Columbus McKinnon from $41.00 to $50.00 and gave the stock a buy rating in a research note on Monday, January 15th. BidaskClub upgraded shares of Columbus McKinnon from a sell rating to a hold rating in a research note on Friday, December 22nd. TheStreet lowered shares of Columbus McKinnon from a b rating to a c+ rating in a research note on Tuesday, February 6th. ValuEngine upgraded shares of Columbus McKinnon from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Seaport Global Securities reiterated a buy rating and set a $50.00 price target on shares of Columbus McKinnon in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Columbus McKinnon presently has an average rating of Hold and a consensus price target of $47.33.
Shares of NASDAQ:CMCO traded up $0.08 on Tuesday, reaching $36.61. The company’s stock had a trading volume of 31,301 shares, compared to its average volume of 165,634. Columbus McKinnon has a 52-week low of $23.19 and a 52-week high of $44.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.81. The stock has a market capitalization of $814.96, a price-to-earnings ratio of 27.67 and a beta of 1.84.
Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The business had revenue of $208.73 million during the quarter, compared to analysts’ expectations of $201.08 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. research analysts forecast that Columbus McKinnon will post 2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Friday, May 4th will be given a dividend of $0.05 per share. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, May 3rd. Columbus McKinnon’s dividend payout ratio is presently 12.12%.
In other Columbus McKinnon news, VP Alan S. Korman sold 1,724 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $36.00, for a total transaction of $62,064.00. Following the transaction, the vice president now directly owns 16,593 shares in the company, valued at $597,348. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.91% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CMCO. Allianz Asset Management GmbH grew its position in shares of Columbus McKinnon by 1,050.9% in the fourth quarter. Allianz Asset Management GmbH now owns 219,848 shares of the industrial products company’s stock valued at $8,790,000 after purchasing an additional 200,746 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $7,271,000. Phocas Financial Corp. purchased a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $5,710,000. Macquarie Group Ltd. lifted its stake in shares of Columbus McKinnon by 9.1% during the fourth quarter. Macquarie Group Ltd. now owns 1,063,241 shares of the industrial products company’s stock valued at $42,508,000 after buying an additional 88,613 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Columbus McKinnon by 42.1% during the fourth quarter. Millennium Management LLC now owns 258,625 shares of the industrial products company’s stock valued at $10,340,000 after buying an additional 76,585 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.
WARNING: “Zacks Investment Research Downgrades Columbus McKinnon (CMCO) to Hold” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://ledgergazette.com/2018/04/17/columbus-mckinnon-cmco-lowered-to-hold-at-zacks-investment-research.html.
Columbus McKinnon Company Profile
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 end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Columbus McKinnon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon and related companies with MarketBeat.com's FREE daily email newsletter.