Columbus McKinnon Corp. (NASDAQ:CMCO) CEO Mark D. Morelli sold 2,795 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $37.00, for a total value of $103,415.00. Following the completion of the transaction, the chief executive officer now owns 17,608 shares of the company’s stock, valued at approximately $651,496. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Columbus McKinnon stock opened at $36.24 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.10 and a current ratio of 1.76. The firm has a market capitalization of $878.08 million, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.73. Columbus McKinnon Corp. has a fifty-two week low of $30.76 and a fifty-two week high of $43.09. The stock’s fifty day moving average is $37.79 and its two-hundred day moving average is $37.41.
Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $199.36 million for the quarter, compared to analyst estimates of $201.24 million. Columbus McKinnon had a return on equity of 15.06% and a net margin of 8.39%. Columbus McKinnon’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that Columbus McKinnon Corp. will post 2.84 EPS for the current fiscal year.
CMCO has been the subject of several research analyst reports. Zacks Investment Research cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. BidaskClub cut Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 1st. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Barrington Research initiated coverage on Columbus McKinnon in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Dougherty & Co reiterated a “buy” rating on shares of Columbus McKinnon in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.00.
A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Columbus McKinnon by 36.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 734,462 shares of the industrial products company’s stock valued at $29,401,000 after purchasing an additional 197,018 shares during the last quarter. FMR LLC grew its holdings in Columbus McKinnon by 35.8% in the first quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock valued at $21,853,000 after purchasing an additional 167,700 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its holdings in Columbus McKinnon by 11.6% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 590,053 shares of the industrial products company’s stock valued at $23,620,000 after purchasing an additional 61,525 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Columbus McKinnon in the fourth quarter valued at $22,823,000. Finally, Granahan Investment Management Inc. MA grew its holdings in Columbus McKinnon by 7.5% in the third quarter. Granahan Investment Management Inc. MA now owns 525,162 shares of the industrial products company’s stock valued at $19,132,000 after purchasing an additional 36,816 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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