Columbus McKinnon Corp. (NASDAQ:CMCO) – Investment analysts at Seaport Global Securities upped their FY2018 earnings per share estimates for shares of Columbus McKinnon in a report released on Wednesday. Seaport Global Securities analyst M. Shlisky now forecasts that the industrial products company will post earnings of $2.01 per share for the year, up from their previous estimate of $1.99. Seaport Global Securities currently has a “Buy” rating and a $50.00 price target on the stock. Seaport Global Securities also issued estimates for Columbus McKinnon’s Q4 2018 earnings at $0.50 EPS, Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.62 EPS and FY2019 earnings at $2.52 EPS.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The business had revenue of $208.73 million for the quarter, compared to analysts’ expectations of $201.08 million. During the same period last year, the business earned $0.25 EPS. The company’s revenue was up 36.9% compared to the same quarter last year.
Columbus McKinnon (NASDAQ CMCO) traded up $0.94 during trading hours on Thursday, hitting $35.59. 300,801 shares of the stock were exchanged, compared to its average volume of 180,537. Columbus McKinnon has a twelve month low of $23.12 and a twelve month high of $44.55. The company has a market cap of $797.70, a PE ratio of 96.19 and a beta of 1.78. The company has a quick ratio of 1.18, a current ratio of 1.81 and a debt-to-equity ratio of 0.83.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Columbus McKinnon by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,919 shares of the industrial products company’s stock valued at $8,448,000 after purchasing an additional 50,970 shares during the last quarter. Algert Global LLC purchased a new position in shares of Columbus McKinnon in the 3rd quarter valued at approximately $1,054,000. New York State Common Retirement Fund raised its position in Columbus McKinnon by 16.0% during the 2nd quarter. New York State Common Retirement Fund now owns 22,500 shares of the industrial products company’s stock worth $572,000 after buying an additional 3,099 shares during the last quarter. Systematic Financial Management LP raised its position in Columbus McKinnon by 17.4% during the 3rd quarter. Systematic Financial Management LP now owns 264,273 shares of the industrial products company’s stock worth $10,008,000 after buying an additional 39,118 shares during the last quarter. Finally, State Street Corp raised its position in Columbus McKinnon by 6.0% during the 2nd quarter. State Street Corp now owns 364,841 shares of the industrial products company’s stock worth $9,277,000 after buying an additional 20,506 shares during the last quarter. 84.93% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Alan S. Korman sold 1,558 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.10, for a total value of $62,475.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark R. Paradowski sold 3,906 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. Insiders sold a total of 6,225 shares of company stock valued at $247,918 over the last ninety days. 3.91% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Friday, February 9th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Thursday, February 8th. Columbus McKinnon’s payout ratio is currently 43.24%.
About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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