Columbus McKinnon (NASDAQ:CMCO) Posts Earnings Results, Beats Expectations By $0.06 EPS

Columbus McKinnon (NASDAQ:CMCO – Get Rating) issued its quarterly earnings results on Thursday. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06, Briefing.com reports. Columbus McKinnon had a net margin of 4.95% and a return on equity of 10.72%. The company had revenue of $253.80 million during the quarter, compared to analyst estimates of $249.79 million. During the same period in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year.

Columbus McKinnon Stock Down 0.1 %

NASDAQ:CMCO traded down $0.04 on Friday, hitting $36.44. 5,172 shares of the company’s stock traded hands, compared to its average volume of 92,608. The firm has a 50-day moving average price of $35.09 and a 200-day moving average price of $34.56. Columbus McKinnon has a 1 year low of $23.54 and a 1 year high of $39.85. The company has a market cap of $1.04 billion, a PE ratio of 22.66 and a beta of 1.24. The company has a current ratio of 2.15, a quick ratio of 1.22 and a debt-to-equity ratio of 0.54.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, May 5th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, May 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.77%. Columbus McKinnon’s dividend payout ratio is 17.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Columbus McKinnon by 2.6% in the 3rd quarter. BlackRock Inc. now owns 2,223,266 shares of the industrial products company’s stock worth $58,159,000 after purchasing an additional 55,329 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Columbus McKinnon by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,791,162 shares of the industrial products company’s stock valued at $66,558,000 after acquiring an additional 62,205 shares during the period. Macquarie Group Ltd. boosted its holdings in Columbus McKinnon by 2.5% during the first quarter. Macquarie Group Ltd. now owns 1,539,598 shares of the industrial products company’s stock valued at $57,211,000 after acquiring an additional 36,868 shares during the period. Vanguard Group Inc. boosted its holdings in Columbus McKinnon by 0.8% during the third quarter. Vanguard Group Inc. now owns 1,393,458 shares of the industrial products company’s stock valued at $36,453,000 after acquiring an additional 11,522 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Columbus McKinnon by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,360,591 shares of the industrial products company’s stock valued at $44,178,000 after acquiring an additional 66,610 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Columbus McKinnon in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company.

Columbus McKinnon Company Profile

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Columbus McKinnon Corp. engages in the design, manufacture, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.