Columbus McKinnon Co. (NASDAQ:CMCO) Announces Quarterly Dividend of $0.07

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) declared a quarterly dividend on Monday, March 24th, RTT News reports. Stockholders of record on Friday, May 2nd will be paid a dividend of 0.07 per share by the industrial products company on Monday, May 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, May 2nd.

Columbus McKinnon has increased its dividend by an average of 5.3% per year over the last three years. Columbus McKinnon has a dividend payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Columbus McKinnon to earn $2.95 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 9.5%.

Columbus McKinnon Price Performance

CMCO stock traded down $0.82 during trading hours on Friday, hitting $17.04. 494,701 shares of the stock traded hands, compared to its average volume of 294,970. The stock has a 50-day simple moving average of $24.47 and a 200 day simple moving average of $31.75. The company has a market cap of $487.57 million, a P/E ratio of 51.64 and a beta of 1.31. Columbus McKinnon has a one year low of $15.48 and a one year high of $45.84. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

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

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Insider Buying and Selling at Columbus McKinnon

In other news, Director Chad R. Abraham purchased 20,000 shares of Columbus McKinnon stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $16.05 per share, for a total transaction of $321,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $321,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher J. Stephens acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $20.27 per share, with a total value of $101,350.00. Following the purchase, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 27,819 shares of company stock valued at $473,064. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CMCO has been the topic of several research reports. StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. DA Davidson restated a "neutral" rating and issued a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th.

About Columbus McKinnon

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.