Columbus McKinnon (NASDAQ:CMCO) Hits New 52-Week Low - Here's Why

Shares of Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $17.22 and last traded at $17.66, with a volume of 21417 shares trading hands. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMCO. DA Davidson restated a "neutral" rating and issued a $35.00 target price on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Columbus McKinnon Price Performance

The stock has a 50 day moving average of $31.55 and a 200-day moving average of $33.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The company has a market cap of $464.39 million, a PE ratio of 49.18 and a beta of 1.22.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 8.64% and a net margin of 0.95%. Equities analysts predict that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

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 1.73%. The ex-dividend date was Friday, February 7th. Columbus McKinnon's payout ratio is 84.85%.

Insider Buying and Selling

In related news, Director Christopher J. Stephens bought 5,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the completion of the transaction, the director now directly owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Columbus McKinnon

A number of hedge funds have recently modified their holdings of CMCO. Mascoma Wealth Management LLC acquired a new position in Columbus McKinnon in the 3rd quarter valued at about $25,000. Sterling Capital Management LLC grew its holdings in shares of Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 810 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Columbus McKinnon in the third quarter valued at approximately $155,000. Park Avenue Securities LLC purchased a new stake in Columbus McKinnon during the 4th quarter worth approximately $239,000. Finally, Freestone Grove Partners LP acquired a new stake in Columbus McKinnon during the 4th quarter worth approximately $242,000. Hedge funds and other institutional investors 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.