Columbus McKinnon (NASDAQ:CMCO) Cut to Hold at StockNews.com

StockNews.com lowered shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a research report released on Tuesday morning.

Columbus McKinnon Trading Up 3.3 %

CMCO opened at $20.50 on Tuesday. Columbus McKinnon has a one year low of $19.55 and a one year high of $45.84. The company has a market cap of $588.15 million, a P/E ratio of 38.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.04. The business’s 50-day simple moving average is $35.87 and its 200-day simple moving average is $34.98.

Columbus McKinnon (NASDAQ:CMCO) last released 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 net margin of 1.51% and a return on equity of 9.20%. As a group, equities research analysts expect that Columbus McKinnon will post 2.98 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be issued a $0.07 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.37%. Columbus McKinnon’s payout ratio is currently 52.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CMCO. Mascoma Wealth Management LLC purchased a new position in Columbus McKinnon during the 3rd quarter worth approximately $25,000. Sterling Capital Management LLC grew its stake in 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 last quarter. Palouse Capital Management Inc. purchased a new position in Columbus McKinnon during the 3rd quarter worth approximately $144,000. Millburn Ridgefield Corp purchased a new position in Columbus McKinnon during the 3rd quarter worth approximately $155,000. Finally, Park Avenue Securities LLC purchased a new position in Columbus McKinnon during the 4th quarter worth approximately $239,000. Hedge funds and other institutional investors own 95.96% 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.