Columbus McKinnon (NASDAQ:CMCO) Announces Earnings Results

Columbus McKinnon (NASDAQ:CMCO) announced its quarterly earnings results on Tuesday. The industrial products company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04, Briefing.com reports. The business had revenue of $212.70 million during the quarter, compared to analyst estimates of $214.84 million. Columbus McKinnon had a net margin of 4.86% and a return on equity of 15.41%. Columbus McKinnon’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS.

Shares of NASDAQ CMCO traded up $0.14 during trading on Friday, hitting $36.89. The stock had a trading volume of 2,680 shares, compared to its average volume of 117,200. Columbus McKinnon has a 12 month low of $27.66 and a 12 month high of $44.01. The company has a quick ratio of 1.02, a current ratio of 1.72 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $861.42 million, a P/E ratio of 13.28 and a beta of 1.80. The company’s fifty day moving average price is $40.44.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. Columbus McKinnon’s payout ratio is 8.76%.

In related news, VP Peter M. Mccormick sold 11,415 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $38.75, for a total value of $442,331.25. Following the transaction, the vice president now directly owns 67,050 shares of the company’s stock, valued at approximately $2,598,187.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory P. Rustowicz sold 11,942 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $38.92, for a total transaction of $464,782.64. Following the completion of the transaction, the chief financial officer now directly owns 63,100 shares in the company, valued at $2,455,852. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,847 shares of company stock valued at $1,417,153. Company insiders own 2.39% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Swiss National Bank boosted its holdings in shares of Columbus McKinnon by 7.8% in the 2nd quarter. Swiss National Bank now owns 41,311 shares of the industrial products company’s stock worth $1,734,000 after buying an additional 3,000 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Columbus McKinnon in the 2nd quarter worth about $353,000. FMR LLC boosted its holdings in shares of Columbus McKinnon by 35.8% in the 1st quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock worth $21,853,000 after buying an additional 167,700 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Columbus McKinnon in the 1st quarter worth about $156,000. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of Columbus McKinnon by 4.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 373,737 shares of the industrial products company’s stock worth $12,838,000 after buying an additional 14,531 shares during the last quarter. 98.89% of the stock is currently owned by institutional investors.

A number of brokerages have commented on CMCO. Zacks Investment Research upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating and set a $43.00 price target for the company in a research note on Tuesday. BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Finally, ValuEngine lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Columbus McKinnon currently has an average rating of “Hold” and an average target price of $45.75.

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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Earnings History for Columbus McKinnon (NASDAQ:CMCO)

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