Columbus McKinnon (CMCO) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Columbus McKinnon (NASDAQ:CMCO) posted its quarterly earnings data on Tuesday. The industrial products company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.13, Bloomberg Earnings reports. The business had revenue of $208.73 million during the quarter, compared to the consensus estimate of $201.08 million. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share.

Shares of Columbus McKinnon (CMCO) traded down $1.65 during midday trading on Wednesday, reaching $36.41. 591,972 shares of the company’s stock were exchanged, compared to its average volume of 183,149. Columbus McKinnon has a 52 week low of $23.13 and a 52 week high of $44.55. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 0.89. The firm has a market cap of $864.05, a P/E ratio of 42.84 and a beta of 1.78.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, February 8th. Columbus McKinnon’s payout ratio is 18.82%.

In other Columbus McKinnon news, VP Alan S. Korman sold 1,558 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.10, for a total value of $62,475.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark R. Paradowski sold 3,906 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. Insiders sold a total of 6,225 shares of company stock valued at $247,918 over the last three months. 3.91% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Columbus McKinnon by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 224,919 shares of the industrial products company’s stock worth $8,448,000 after buying an additional 50,970 shares during the period. Algert Global LLC acquired a new stake in Columbus McKinnon during the 3rd quarter worth about $1,054,000. New York State Common Retirement Fund raised its holdings in Columbus McKinnon by 16.0% during the 2nd quarter. New York State Common Retirement Fund now owns 22,500 shares of the industrial products company’s stock worth $572,000 after buying an additional 3,099 shares during the period. Systematic Financial Management LP raised its holdings in Columbus McKinnon by 17.4% during the 3rd quarter. Systematic Financial Management LP now owns 264,273 shares of the industrial products company’s stock worth $10,008,000 after buying an additional 39,118 shares during the period. Finally, State Street Corp raised its holdings in Columbus McKinnon by 6.0% during the 2nd quarter. State Street Corp now owns 364,841 shares of the industrial products company’s stock worth $9,277,000 after buying an additional 20,506 shares during the period. 84.93% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on CMCO shares. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Roth Capital upped their price target on shares of Columbus McKinnon from $41.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 15th. Seaport Global Securities reissued a “buy” rating and issued a $50.00 price target on shares of Columbus McKinnon in a report on Wednesday, January 10th. Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, November 2nd. Finally, BidaskClub raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.33.

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About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.

Earnings History for Columbus McKinnon (NASDAQ:CMCO)

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