Columbus McKinnon Co. (NASDAQ:CMCO) to Issue $0.07 Quarterly Dividend

Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Friday, February 10th will be given a dividend of 0.07 per share by the industrial products company on Tuesday, February 21st. This represents a $0.28 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, February 9th.

Columbus McKinnon has increased its dividend payment by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Columbus McKinnon has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 9.4%.

Columbus McKinnon Trading Down 1.2 %

NASDAQ:CMCO traded down $0.43 during trading hours on Wednesday, reaching $34.37. 2,823 shares of the stock were exchanged, compared to its average volume of 98,539. The company has a quick ratio of 1.20, a current ratio of 2.07 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $32.75 and a two-hundred day moving average of $30.63. Columbus McKinnon has a twelve month low of $23.54 and a twelve month high of $48.78. The company has a market capitalization of $984.01 million, a price-to-earnings ratio of 22.75 and a beta of 1.25.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Columbus McKinnon had a return on equity of 10.53% and a net margin of 4.80%. The company had revenue of $231.74 million for the quarter, compared to analysts’ expectations of $235.71 million. On average, equities analysts predict that Columbus McKinnon will post 2.83 EPS for the current year.

Institutional Trading of Columbus McKinnon

A number of large investors have recently modified their holdings of CMCO. Advisor Group Holdings Inc. increased its position in shares of Columbus McKinnon by 51.2% during the first quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 855 shares during the period. JPMorgan Chase & Co. increased its holdings in Columbus McKinnon by 31.0% in the first quarter. JPMorgan Chase & Co. now owns 144,389 shares of the industrial products company’s stock valued at $6,122,000 after buying an additional 34,149 shares during the last quarter. Raymond James & Associates increased its holdings in Columbus McKinnon by 36.9% in the first quarter. Raymond James & Associates now owns 58,377 shares of the industrial products company’s stock valued at $2,475,000 after buying an additional 15,730 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Columbus McKinnon by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 142,741 shares of the industrial products company’s stock valued at $6,051,000 after buying an additional 5,017 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Columbus McKinnon by 27.6% in the first quarter. US Bancorp DE now owns 15,359 shares of the industrial products company’s stock valued at $651,000 after buying an additional 3,321 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CMCO. StockNews.com upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Monday, November 14th. DA Davidson cut their price objective on Columbus McKinnon from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Columbus McKinnon presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

About Columbus McKinnon

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Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.