Columbus McKinnon (CMCO) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

CMCO has been the subject of a number of other reports. ValuEngine upgraded Columbus McKinnon from a hold rating to a buy rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Columbus McKinnon from a hold rating to a buy rating and set a $42.00 target price for the company in a research note on Monday, March 12th. Roth Capital raised their target price on Columbus McKinnon from $41.00 to $50.00 and gave the company a buy rating in a research note on Monday, January 15th. Finally, Seaport Global Securities restated a buy rating and issued a $50.00 target price on shares of Columbus McKinnon in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $47.33.

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Shares of NASDAQ:CMCO opened at $37.21 on Friday. Columbus McKinnon has a twelve month low of $23.19 and a twelve month high of $44.55. The firm has a market capitalization of $869.98, a PE ratio of 19.89 and a beta of 1.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.81 and a quick ratio of 1.06.



Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.13. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The company had revenue of $208.73 million during the quarter, compared to analyst estimates of $201.08 million. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. equities analysts anticipate that Columbus McKinnon will post 2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Friday, May 4th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 3rd. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. Columbus McKinnon’s dividend payout ratio (DPR) is 12.12%.

In related news, VP Alan S. Korman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $74,780.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alan S. Korman sold 1,724 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $36.00, for a total value of $62,064.00. Following the completion of the transaction, the vice president now owns 16,593 shares in the company, valued at approximately $597,348. The disclosure for this sale can be found here. 3.91% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of CMCO. Allianz Asset Management GmbH boosted its holdings in Columbus McKinnon by 1,050.9% in the fourth quarter. Allianz Asset Management GmbH now owns 219,848 shares of the industrial products company’s stock valued at $8,790,000 after acquiring an additional 200,746 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Columbus McKinnon during the fourth quarter worth about $7,271,000. Phocas Financial Corp. bought a new position in Columbus McKinnon during the fourth quarter worth about $5,710,000. Macquarie Group Ltd. boosted its holdings in Columbus McKinnon by 9.1% during the fourth quarter. Macquarie Group Ltd. now owns 1,063,241 shares of the industrial products company’s stock worth $42,508,000 after buying an additional 88,613 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Columbus McKinnon by 42.1% during the fourth quarter. Millennium Management LLC now owns 258,625 shares of the industrial products company’s stock worth $10,340,000 after buying an additional 76,585 shares during the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.

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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 end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.

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