Chad R. Abraham Buys 20,000 Shares of Columbus McKinnon Co. (NASDAQ:CMCO) Stock

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) Director Chad R. Abraham purchased 20,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $16.05 per share, for a total transaction of $321,000.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $321,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Columbus McKinnon Stock Up 5.5 %

CMCO stock traded up $0.93 during trading on Friday, reaching $17.94. 891,308 shares of the company traded hands, compared to its average volume of 607,850. Columbus McKinnon Co. has a 12 month low of $15.48 and a 12 month high of $45.84. The business has a 50 day simple moving average of $29.50 and a 200 day simple moving average of $33.20. The company has a market capitalization of $513.32 million, a price-to-earnings ratio of 54.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. On average, equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

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Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, February 7th. Columbus McKinnon's dividend payout ratio is presently 84.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CMCO shares. DA Davidson reissued a "neutral" rating and set a $35.00 price target on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors have recently added to or reduced their stakes in the business. Isthmus Partners LLC boosted its holdings in Columbus McKinnon by 0.5% in the fourth quarter. Isthmus Partners LLC now owns 69,246 shares of the industrial products company's stock worth $2,579,000 after acquiring an additional 378 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Columbus McKinnon by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 22,309 shares of the industrial products company's stock worth $831,000 after purchasing an additional 561 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of Columbus McKinnon by 1.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 33,110 shares of the industrial products company's stock worth $1,233,000 after purchasing an additional 590 shares during the last quarter. Mascoma Wealth Management LLC purchased a new position in shares of Columbus McKinnon in the third quarter worth about $25,000. Finally, PNC Financial Services Group Inc. raised its position in Columbus McKinnon by 12.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock valued at $265,000 after acquiring an additional 806 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.