Chad R. Abraham Buys 20,000 Shares of Columbus McKinnon Co. (NASDAQ:CMCO) Stock

Columbus McKinnon Co. (NASDAQ:CMCO) Director Chad R. Abraham acquired 20,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $321,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Columbus McKinnon Stock Up 3.4 %

Shares of CMCO stock traded up $0.55 during trading on Wednesday, reaching $16.50. The company’s stock had a trading volume of 427,608 shares, compared to its average volume of 588,250. The company has a market cap of $471.97 million, a price-to-earnings ratio of 50.02 and a beta of 1.22. Columbus McKinnon Co. has a one year low of $15.48 and a one year high of $45.84. The business has a fifty day moving average price of $30.72 and a 200-day moving average price of $33.53. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50.

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

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.70%. Columbus McKinnon’s payout ratio is 84.85%.

Institutional Investors Weigh In On Columbus McKinnon

Hedge funds have recently bought and sold shares of the company. Mascoma Wealth Management LLC bought a new position in Columbus McKinnon during the third quarter worth $25,000. Sterling Capital Management LLC boosted its holdings in shares of Columbus McKinnon by 810.0% during the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after buying an additional 810 shares during the period. Millburn Ridgefield Corp bought a new position in Columbus McKinnon in the 3rd quarter valued at about $155,000. Park Avenue Securities LLC acquired a new stake in Columbus McKinnon during the fourth quarter worth approximately $239,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Columbus McKinnon during the fourth quarter worth approximately $242,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CMCO. DA Davidson reiterated a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Columbus McKinnon Company Profile

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.