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

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Monday, March 24th, RTT News reports. Shareholders of record on Friday, May 2nd will be given a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 annualized dividend and a yield of 1.49%.

Columbus McKinnon has increased its dividend by an average of 5.3% annually over the last three years. Columbus McKinnon has a dividend payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.5%.

Columbus McKinnon Trading Up 1.7 %

Shares of NASDAQ:CMCO opened at $18.78 on Tuesday. The stock has a 50 day moving average of $25.53 and a 200 day moving average of $32.03. The company has a market cap of $537.35 million, a PE ratio of 56.91 and a beta of 1.31. Columbus McKinnon has a 12-month low of $15.48 and a 12-month high of $45.84. 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 announced its quarterly earnings data 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 net margin of 0.95% and a return on equity of 8.64%. As a group, equities research analysts expect that Columbus McKinnon will post 2.69 EPS for the current year.

Insider Activity

In related news, Director Kathryn V. Bohl bought 2,819 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now directly owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. This trade represents a 23.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Chad R. Abraham purchased 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $321,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 27,819 shares of company stock worth $473,064. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMCO. DA Davidson reiterated a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

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.