Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) – Stock analysts at Barrington Research cut their Q2 2023 EPS estimates for Columbus McKinnon in a report released on Thursday, July 28th. Barrington Research analyst C. Howe now anticipates that the industrial products company will earn $0.70 per share for the quarter, down from their previous estimate of $0.76. Barrington Research currently has a “Maintains” rating on the stock. The consensus estimate for Columbus McKinnon’s current full-year earnings is $2.99 per share. Barrington Research also issued estimates for Columbus McKinnon’s Q3 2023 earnings at $0.57 EPS, Q4 2023 earnings at $0.92 EPS, FY2023 earnings at $2.89 EPS and FY2024 earnings at $3.87 EPS.
Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. Columbus McKinnon had a net margin of 3.27% and a return on equity of 10.78%. The firm had revenue of $253.40 million for the quarter, compared to analyst estimates of $235.33 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 36.1% compared to the same quarter last year.
Columbus McKinnon Trading Up 3.2 %
CMCO opened at $33.10 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.18. Columbus McKinnon has a fifty-two week low of $26.42 and a fifty-two week high of $54.20. The firm has a market capitalization of $945.04 million, a PE ratio of 32.77, a P/E/G ratio of 0.39 and a beta of 1.21. The company’s 50-day moving average is $30.70 and its 200 day moving average is $37.82.
Columbus McKinnon Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, August 5th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, August 4th. Columbus McKinnon’s payout ratio is 27.72%.
Insiders Place Their Bets
In other Columbus McKinnon news, insider Kurt F. Wozniak sold 10,778 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $34.24, for a total value of $369,038.72. Following the completion of the sale, the insider now directly owns 25,725 shares of the company’s stock, valued at approximately $880,824. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.18% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pinebridge Investments L.P. purchased a new stake in shares of Columbus McKinnon during the 4th quarter valued at approximately $56,000. Advisor Group Holdings Inc. lifted its stake in shares of Columbus McKinnon by 184.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock valued at $78,000 after buying an additional 1,083 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Columbus McKinnon during the 1st quarter valued at approximately $142,000. SG Americas Securities LLC purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at approximately $228,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Columbus McKinnon during the 1st quarter valued at approximately $244,000. 97.70% of the stock is owned by institutional investors.
Columbus McKinnon Company Profile
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.
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