Columbus McKinnon Corporation (NASDAQ:CMCO) Releases Earnings Results, Beats Expectations By $0.23 EPS

Columbus McKinnon Corporation (NASDAQ:CMCO) issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.23, Bloomberg Earnings reports. The firm had revenue of $203.70 million for the quarter, compared to the consensus estimate of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The company’s revenue was up 36.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS.

Shares of Columbus McKinnon Corporation (CMCO) opened at 30.83 on Friday. Columbus McKinnon Corporation has a 12-month low of $16.86 and a 12-month high of $33.12. The firm has a market cap of $697.53 million, a P/E ratio of 46.71 and a beta of 1.92. The company’s 50 day moving average price is $27.94 and its 200 day moving average price is $26.42.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 9th. Columbus McKinnon Corporation’s dividend payout ratio (DPR) is 25.00%.

CMCO has been the topic of a number of research analyst reports. BidaskClub raised Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Columbus McKinnon Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. TheStreet downgraded Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a report on Wednesday, May 31st. Roth Capital assumed coverage on Columbus McKinnon Corporation in a report on Friday, July 28th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, ValuEngine downgraded Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Columbus McKinnon Corporation has an average rating of “Buy” and an average target price of $34.50.

In other Columbus McKinnon Corporation news, VP Alan S. Korman sold 3,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $27.13, for a total transaction of $81,390.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy T. Tevens sold 8,770 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $32.15, for a total transaction of $281,955.50. Following the sale, the chief executive officer now owns 293,536 shares of the company’s stock, valued at $9,437,182.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,087 shares of company stock valued at $4,030,122. Company insiders own 3.91% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CMCO. American Century Companies Inc. raised its stake in Columbus McKinnon Corporation by 121.0% in the first quarter. American Century Companies Inc. now owns 22,529 shares of the industrial products company’s stock valued at $559,000 after buying an additional 12,337 shares during the last quarter. Algert Global LLC raised its stake in Columbus McKinnon Corporation by 3.7% in the first quarter. Algert Global LLC now owns 34,830 shares of the industrial products company’s stock valued at $864,000 after buying an additional 1,250 shares during the last quarter. Wells Fargo & Company MN raised its stake in Columbus McKinnon Corporation by 87.0% in the first quarter. Wells Fargo & Company MN now owns 28,723 shares of the industrial products company’s stock valued at $712,000 after buying an additional 13,367 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in Columbus McKinnon Corporation by 32.7% in the first quarter. Essex Investment Management Co. LLC now owns 41,963 shares of the industrial products company’s stock valued at $1,042,000 after buying an additional 10,342 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in Columbus McKinnon Corporation during the first quarter valued at about $3,641,000. Institutional investors and hedge funds own 84.05% of the company’s stock.

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Columbus McKinnon Corporation Company Profile

Earnings History for Columbus McKinnon Corporation (NASDAQ:CMCO)

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