Columbus McKinnon (NASDAQ:CMCO) Downgraded to “Neutral” Rating by DA Davidson

DA Davidson cut shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat reports. DA Davidson currently has $35.00 target price on the industrial products company’s stock.

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday.

Columbus McKinnon Price Performance

Shares of CMCO stock opened at $20.87 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $598.76 million, a price-to-earnings ratio of 39.38 and a beta of 1.22. The firm’s 50 day moving average is $36.65 and its 200-day moving average is $35.18. Columbus McKinnon has a 1 year low of $19.61 and a 1 year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. Sell-side analysts forecast that Columbus McKinnon will post 2.98 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 52.83%.

Insider Buying and Selling

In other news, Director Christopher J. Stephens bought 1,000 shares of the stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the completion of the purchase, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently made changes to their positions in CMCO. Mascoma Wealth Management LLC bought a new position in Columbus McKinnon during the third quarter worth about $25,000. Palouse Capital Management Inc. acquired a new stake in shares of Columbus McKinnon during the third quarter worth about $144,000. Millburn Ridgefield Corp bought a new position in shares of Columbus McKinnon during the 3rd quarter valued at about $155,000. Park Avenue Securities LLC acquired a new position in shares of Columbus McKinnon in the 4th quarter valued at approximately $239,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Columbus McKinnon during the 4th quarter worth approximately $250,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.