Columbus McKinnon (NASDAQ:CMCO) Hits New 52-Week Low at $30.26

Columbus McKinnon Co. (NASDAQ:CMCO)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $30.26 and last traded at $30.26, with a volume of 1254 shares changing hands. The stock had previously closed at $30.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMCO shares. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on Columbus McKinnon in a research report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price target for the company.

Columbus McKinnon Stock Performance

The stock has a 50-day simple moving average of $34.22 and a 200-day simple moving average of $38.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20. The stock has a market cap of $866.64 million, a PE ratio of 18.54 and a beta of 1.18.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, topping 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 the consensus estimate of $241.25 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s payout ratio is 17.28%.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of Columbus McKinnon by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 2,445,843 shares of the industrial products company’s stock worth $95,437,000 after buying an additional 27,039 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Columbus McKinnon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock worth $65,315,000 after buying an additional 7,465 shares during the period. Vanguard Group Inc. lifted its stake in shares of Columbus McKinnon by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company’s stock worth $69,505,000 after acquiring an additional 16,174 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Columbus McKinnon in the second quarter worth about $35,540,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Columbus McKinnon by 0.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company’s stock worth $33,305,000 after acquiring an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.