Columbus McKinnon (NASDAQ:CMCO) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Columbus McKinnon (NASDAQ:CMCO – Get Rating) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Columbus McKinnon Stock Up 2.6 %

CMCO opened at $37.04 on Tuesday. The business’s 50-day simple moving average is $36.40 and its 200-day simple moving average is $31.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.22 and a current ratio of 2.15. Columbus McKinnon has a one year low of $23.54 and a one year high of $46.54. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.01 and a beta of 1.23.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last posted its earnings results on Wednesday, February 1st. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. Columbus McKinnon had a return on equity of 10.72% and a net margin of 4.95%. The business had revenue of $230.40 million for the quarter, compared to analysts’ expectations of $228.49 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Analysts anticipate that Columbus McKinnon will post 2.87 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Friday, February 10th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, February 9th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 17.39%.

Hedge Funds Weigh In On Columbus McKinnon

Several institutional investors have recently added to or reduced their stakes in CMCO. Franklin Resources Inc. increased its position in Columbus McKinnon by 328.3% in the 4th quarter. Franklin Resources Inc. now owns 1,309,042 shares of the industrial products company’s stock valued at $42,505,000 after acquiring an additional 1,003,402 shares during the period. Fisher Asset Management LLC boosted its holdings in Columbus McKinnon by 647.5% in the 4th quarter. Fisher Asset Management LLC now owns 240,839 shares of the industrial products company’s stock valued at $7,820,000 after purchasing an additional 208,620 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Columbus McKinnon during the 2nd quarter worth approximately $4,663,000. Renaissance Technologies LLC boosted its stake in shares of Columbus McKinnon by 734.1% during the 2nd quarter. Renaissance Technologies LLC now owns 114,985 shares of the industrial products company’s stock worth $3,262,000 after acquiring an additional 101,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Columbus McKinnon by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,728,957 shares of the industrial products company’s stock worth $56,139,000 after acquiring an additional 74,704 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Columbus McKinnon

(Get Rating)

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.