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Columbus McKinnon (NASDAQ:CMCO) Shares Gap Down - What's Next?

Columbus McKinnon logo with Industrial Products background

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $32.24, but opened at $30.45. Columbus McKinnon shares last traded at $30.65, with a volume of 26,783 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd.

View Our Latest Research Report on CMCO

Columbus McKinnon Trading Down 0.3 %

The company has a quick ratio of 1.20, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $927.24 million, a price-to-earnings ratio of 19.83 and a beta of 1.17. The company has a 50-day moving average price of $33.29 and a 200-day moving average price of $36.36.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The company had revenue of $239.73 million during the quarter, compared to analysts' expectations of $241.25 million. During the same period in the prior year, the business earned $0.62 earnings per share. Columbus McKinnon's revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts predict that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon's payout ratio is presently 17.28%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CMCO. Quarry LP acquired a new position in Columbus McKinnon in the second quarter worth about $39,000. Innealta Capital LLC bought a new stake in Columbus McKinnon in the second quarter valued at $41,000. CWM LLC raised its stake in Columbus McKinnon by 679.8% during the second quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock worth $63,000 after acquiring an additional 1,584 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Columbus McKinnon during the second quarter valued at $73,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $106,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Columbus McKinnon

(Get Free Report)

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.

See Also

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