Columbus McKinnon Co. (NASDAQ:CMCO) CFO Sells $392,063.84 in Stock

Columbus McKinnon Co. (NASDAQ:CMCOGet Free Report) CFO Gregory P. Rustowicz sold 9,461 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total transaction of $392,063.84. Following the sale, the chief financial officer now owns 79,012 shares in the company, valued at $3,274,257.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $43.00 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.23 billion, a P/E ratio of 25.44 and a beta of 1.28. The company has a 50-day moving average of $38.29 and a two-hundred day moving average of $36.47. Columbus McKinnon Co. has a 12-month low of $30.29 and a 12-month high of $43.37.

Columbus McKinnon (NASDAQ:CMCOGet Free Report) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $254.00 million. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, research analysts predict that Columbus McKinnon Co. will post 2.95 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 16.57%.

Analyst Ratings Changes

Several analysts have recently commented on CMCO shares. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 2nd. Finally, DA Davidson raised their price objective on shares of Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 5th.

Check Out Our Latest Research Report on Columbus McKinnon

Institutional Investors Weigh In On Columbus McKinnon

Hedge funds and other institutional investors have recently modified their holdings of the company. Carmel Capital Partners LLC purchased a new stake in shares of Columbus McKinnon during the third quarter worth about $27,000. Tower Research Capital LLC TRC grew its holdings in shares of Columbus McKinnon by 350.5% during the first quarter. Tower Research Capital LLC TRC now owns 919 shares of the industrial products company’s stock worth $34,000 after buying an additional 715 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of Columbus McKinnon during the second quarter worth about $43,000. TFO Wealth Partners LLC grew its holdings in shares of Columbus McKinnon by 13,440.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,344 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Columbus McKinnon during the second quarter worth about $54,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

About Columbus McKinnon

(Get Free Report)

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.

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