Alan S. Korman Sells 261 Shares of Columbus McKinnon Corporation (CMCO) Stock

Columbus McKinnon Corporation (NASDAQ:CMCO) VP Alan S. Korman sold 261 shares of Columbus McKinnon stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $40.11, for a total transaction of $10,468.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Columbus McKinnon Corporation (NASDAQ:CMCO) opened at $39.16 on Wednesday. The stock has a market capitalization of $913.73, a price-to-earnings ratio of 23.65 and a beta of 1.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.18 and a current ratio of 1.96. Columbus McKinnon Corporation has a one year low of $22.88 and a one year high of $41.49.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Columbus McKinnon had a return on equity of 10.95% and a net margin of 2.65%. The business had revenue of $212.80 million during the quarter, compared to the consensus estimate of $203.27 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business’s revenue was up 40.0% on a year-over-year basis. research analysts forecast that Columbus McKinnon Corporation will post 1.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.41%. The ex-dividend date was Thursday, November 9th. Columbus McKinnon’s payout ratio is 18.82%.

A number of institutional investors and hedge funds have recently bought and sold shares of CMCO. Teachers Advisors LLC grew its holdings in Columbus McKinnon by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 34,877 shares of the industrial products company’s stock valued at $866,000 after buying an additional 2,914 shares during the period. Vanguard Group Inc. grew its holdings in Columbus McKinnon by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 779,302 shares of the industrial products company’s stock valued at $19,343,000 after buying an additional 23,394 shares during the period. Geode Capital Management LLC grew its holdings in Columbus McKinnon by 7.9% in the 1st quarter. Geode Capital Management LLC now owns 167,412 shares of the industrial products company’s stock valued at $4,155,000 after buying an additional 12,281 shares during the period. Morgan Stanley grew its holdings in Columbus McKinnon by 4.3% in the 1st quarter. Morgan Stanley now owns 185,460 shares of the industrial products company’s stock valued at $4,603,000 after buying an additional 7,585 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Columbus McKinnon by 3.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 120,928 shares of the industrial products company’s stock worth $3,002,000 after purchasing an additional 4,104 shares during the period. Institutional investors own 85.17% of the company’s stock.

A number of equities research analysts have commented on the company. Roth Capital raised their target price on Columbus McKinnon from $36.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, ValuEngine downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $37.00.

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