Columbus McKinnon (NASDAQ:CMCO) Issues Quarterly Earnings Results

Columbus McKinnon (NASDAQ:CMCO – Get Rating) posted its quarterly earnings data on Thursday. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06, Briefing.com reports. The business had revenue of $253.80 million for the quarter, compared to the consensus estimate of $249.79 million. Columbus McKinnon had a net margin of 4.95% and a return on equity of 10.72%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $36.48 on Friday. The company’s 50-day moving average price is $35.09 and its 200-day moving average price is $34.56. The company has a current ratio of 2.15, a quick ratio of 1.22 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.04 billion, a P/E ratio of 22.66 and a beta of 1.24. Columbus McKinnon has a twelve month low of $23.54 and a twelve month high of $39.85.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, May 5th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, May 4th. Columbus McKinnon’s dividend payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Columbus McKinnon in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock.

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in Columbus McKinnon by 7.5% during the first quarter. Ameriprise Financial Inc. now owns 84,418 shares of the industrial products company’s stock worth $3,137,000 after purchasing an additional 5,900 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Columbus McKinnon by 26.4% during the first quarter. JPMorgan Chase & Co. now owns 31,677 shares of the industrial products company’s stock valued at $1,178,000 after acquiring an additional 6,611 shares during the last quarter. State Street Corp increased its position in shares of Columbus McKinnon by 2.3% during the first quarter. State Street Corp now owns 594,348 shares of the industrial products company’s stock valued at $22,086,000 after acquiring an additional 13,106 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Columbus McKinnon by 5.1% during the first quarter. Geode Capital Management LLC now owns 569,558 shares of the industrial products company’s stock valued at $21,165,000 after acquiring an additional 27,397 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Columbus McKinnon by 2.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 197,610 shares of the industrial products company’s stock valued at $7,343,000 after acquiring an additional 4,700 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Company Profile

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Columbus McKinnon Corp. engages in the design, manufacture, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.