Columbus McKinnon Co. (NASDAQ:CMCO) to Issue $0.07 Quarterly Dividend

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Tuesday, January 21st,RTT News reports. Investors of record on Friday, February 7th will be paid a dividend of 0.07 per share by the industrial products company on Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 0.74%.

Columbus McKinnon has increased its dividend by an average of 5.3% annually over the last three years.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $37.61 on Wednesday. The company’s 50 day moving average price is $37.56 and its two-hundred day moving average price is $35.29. The firm has a market capitalization of $1.08 billion, a P/E ratio of 70.96 and a beta of 1.24. Columbus McKinnon has a fifty-two week low of $29.26 and a fifty-two week high of $45.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th.

Insiders Place Their Bets

In related news, CEO David J. Wilson bought 31,300 shares of Columbus McKinnon stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $32.02 per share, for a total transaction of $1,002,226.00. Following the completion of the acquisition, the chief executive officer now directly owns 31,300 shares of the company’s stock, valued at approximately $1,002,226. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the acquisition, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. The trade was a 19.94 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.