Columbus McKinnon (NASDAQ:CMCO) Shares Cross Above Two Hundred Day Moving Average – What’s Next?
by Kim Johansen · The Markets DailyShares of Columbus McKinnon Corporation (NASDAQ:CMCO – Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.07 and traded as high as $18.90. Columbus McKinnon shares last traded at $18.79, with a volume of 492,324 shares.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. DA Davidson set a $20.00 target price on Columbus McKinnon in a research report on Thursday, February 12th. CJS Securities raised Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. cut their target price on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Zacks Research cut Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Columbus McKinnon presently has a consensus rating of “Hold” and an average price target of $23.50.
Read Our Latest Stock Report on Columbus McKinnon
Columbus McKinnon Trading Down 0.3%
The stock has a market cap of $530.23 million, a P/E ratio of 87.86 and a beta of 1.32. The firm’s 50 day simple moving average is $19.92 and its two-hundred day simple moving average is $17.08. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43.
Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. As a group, equities research analysts predict that Columbus McKinnon Corporation will post 2.69 earnings per share for the current fiscal year.
Columbus McKinnon Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Friday, February 13th were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Columbus McKinnon’s payout ratio is currently 133.33%.
Insider Buying and Selling
In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total value of $120,706.80. Following the sale, the insider directly owned 9,366 shares in the company, valued at approximately $218,040.48. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.26% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. SummerHaven Investment Management LLC bought a new position in Columbus McKinnon in the 3rd quarter valued at about $735,000. Savant Capital LLC acquired a new stake in shares of Columbus McKinnon in the 2nd quarter worth approximately $320,000. Assenagon Asset Management S.A. acquired a new stake in shares of Columbus McKinnon in the 3rd quarter worth approximately $8,040,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Columbus McKinnon in the second quarter valued at approximately $1,480,000. Finally, RBF Capital LLC increased its stake in shares of Columbus McKinnon by 241.8% during the second quarter. RBF Capital LLC now owns 137,200 shares of the industrial products company’s stock valued at $2,095,000 after acquiring an additional 97,060 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.
About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.
With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.