Columbus McKinnon (CMCO) Cut to Sell at BidaskClub

BidaskClub cut shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a sell rating in a research report released on Tuesday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the company. Roth Capital set a $44.00 target price on Columbus McKinnon and gave the company a buy rating in a research note on Saturday, February 2nd. Seaport Global Securities started coverage on Columbus McKinnon in a research note on Wednesday, January 23rd. They issued a buy rating and a $42.00 target price on the stock. Zacks Investment Research upgraded Columbus McKinnon from a hold rating to a buy rating and set a $37.00 target price on the stock in a research note on Wednesday, January 16th. Finally, ValuEngine upgraded Columbus McKinnon from a sell rating to a hold rating in a research note on Wednesday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $44.50.

NASDAQ CMCO opened at $35.19 on Tuesday. The company has a market capitalization of $821.69 million, a price-to-earnings ratio of 17.51 and a beta of 1.80. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Columbus McKinnon has a 52 week low of $27.66 and a 52 week high of $45.85.

The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, May 3rd were paid a $0.06 dividend. This is a boost from Columbus McKinnon’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, May 2nd. This represents a $0.24 annualized dividend and a yield of 0.68%. Columbus McKinnon’s payout ratio is presently 11.94%.

In other news, VP Alan S. Korman sold 5,168 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $37.90, for a total transaction of $195,867.20. Following the sale, the vice president now owns 15,711 shares in the company, valued at approximately $595,446.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.27% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Columbus McKinnon by 20.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 195,290 shares of the industrial products company’s stock worth $7,722,000 after acquiring an additional 33,745 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Columbus McKinnon during the 3rd quarter worth $222,000. MetLife Investment Advisors LLC grew its holdings in shares of Columbus McKinnon by 57.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 15,826 shares of the industrial products company’s stock worth $626,000 after purchasing an additional 5,752 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Columbus McKinnon by 4.0% during the 3rd quarter. Teachers Advisors LLC now owns 42,894 shares of the industrial products company’s stock worth $1,696,000 after purchasing an additional 1,666 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Columbus McKinnon by 33.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 84,517 shares of the industrial products company’s stock worth $3,342,000 after purchasing an additional 21,400 shares in the last quarter. Institutional investors own 96.40% of the company’s stock.

Columbus McKinnon Company Profile

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.

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