Columbus McKinnon (NASDAQ:CMCO) Hits New 12-Month Low – What’s Next?

Columbus McKinnon Co. (NASDAQ:CMCO)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $19.49 and last traded at $19.30, with a volume of 163133 shares. The stock had previously closed at $20.08.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMCO. DA Davidson restated a “neutral” rating and issued a $35.00 price objective on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Columbus McKinnon Price Performance

The company’s 50 day moving average is $33.51 and its 200-day moving average is $34.27. The firm has a market capitalization of $540.73 million, a price-to-earnings ratio of 57.27 and a beta of 1.22. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. Equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, February 7th. Columbus McKinnon’s payout ratio is presently 84.85%.

Insider Transactions at Columbus McKinnon

In other news, Director Christopher J. Stephens bought 5,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the purchase, the director now owns 11,014 shares in the company, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth $26,416,000. Victory Capital Management Inc. raised its stake in Columbus McKinnon by 117.8% in the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after purchasing an additional 398,826 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Columbus McKinnon in the 4th quarter worth about $14,799,000. Segall Bryant & Hamill LLC boosted its holdings in Columbus McKinnon by 95.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock valued at $27,190,000 after purchasing an additional 356,232 shares during the period. Finally, Invesco Ltd. grew its position in Columbus McKinnon by 207.9% during the fourth quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company’s stock worth $16,952,000 after buying an additional 307,355 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.