Columbus McKinnon Co. (CMCO) to Distribute Quarterly Dividend of $0.07 on May 13th

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Monday, March 18th, Zacks reports. Shareholders of record on Friday, May 3rd will be given a dividend of 0.07 per share by the industrial products company on Monday, May 13th. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, May 2nd.

Columbus McKinnon has raised its dividend by an average of 5.3% annually over the last three years. Columbus McKinnon has a payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $3.37 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 8.3%.

Columbus McKinnon Trading Up 0.6 %

Columbus McKinnon stock opened at $42.18 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 1.16. The firm has a 50-day moving average of $42.07 and a 200-day moving average of $38.58. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 24.96 and a beta of 1.29. Columbus McKinnon has a one year low of $30.29 and a one year high of $44.97.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $254.14 million during the quarter, compared to the consensus estimate of $254.00 million. Columbus McKinnon had a return on equity of 9.88% and a net margin of 4.86%. During the same period last year, the company earned $0.72 earnings per share. On average, equities analysts expect that Columbus McKinnon will post 2.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CMCO has been the topic of several recent analyst reports. StockNews.com lowered shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. DA Davidson boosted their target price on Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a research note on Tuesday, January 2nd.

Insiders Place Their Bets

In related news, SVP Lara Mario Y. Ramos sold 9,071 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now directly owns 12,266 shares in the company, valued at $472,241. The sale was disclosed in a filing with the SEC, which is available at this link. In other Columbus McKinnon news, SVP Lara Mario Y. Ramos sold 9,071 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the sale, the senior vice president now owns 12,266 shares of the company’s stock, valued at approximately $472,241. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gregory P. Rustowicz sold 9,461 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total value of $392,063.84. Following the transaction, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at approximately $3,274,257.28. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.

Columbus McKinnon Company Profile

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.