Columbus McKinnon Corp. Announces Quarterly Dividend of $0.05 (NASDAQ:CMCO)

Columbus McKinnon Corp. (NASDAQ:CMCO) declared a quarterly dividend on Wednesday, January 23rd, Wall Street Journal reports. Shareholders of record on Friday, February 1st will be given a dividend of 0.05 per share by the industrial products company on Monday, February 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, January 31st.

Columbus McKinnon has raised its dividend payment by an average of 5.9% per year over the last three years. Columbus McKinnon has a dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Columbus McKinnon to earn $3.05 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.6%.

Get Columbus McKinnon alerts:

Shares of Columbus McKinnon stock opened at $36.87 on Thursday. Columbus McKinnon has a 1 year low of $27.66 and a 1 year high of $45.85. The firm has a market cap of $839.38 million, a P/E ratio of 18.34 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.78 and a quick ratio of 1.01.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. The firm had revenue of $217.42 million for the quarter, compared to analyst estimates of $215.05 million. As a group, equities analysts anticipate that Columbus McKinnon will post 2.63 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. ValuEngine upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, October 30th. Roth Capital set a $44.00 price target on shares of Columbus McKinnon and gave the stock a “buy” rating in a report on Saturday, February 2nd. Finally, Craig Hallum set a $54.00 price target on shares of Columbus McKinnon and gave the stock a “buy” rating in a report on Tuesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $44.50.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

See Also: What is a closed-end mutual fund (CEF)?

Receive News & Ratings for Columbus McKinnon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon and related companies with MarketBeat.com's FREE daily email newsletter.