Columbus McKinnon Co. (NASDAQ:CMCO) to Issue Quarterly Dividend of $0.07

Columbus McKinnon Co. (NASDAQ:CMCO) announced a quarterly dividend on Monday, March 18th, Zacks reports. Investors of record on Friday, May 3rd will be given a dividend of 0.07 per share by the industrial products company on Monday, May 13th. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, May 2nd.

Columbus McKinnon has increased its dividend by an average of 5.3% annually over the last three years. Columbus McKinnon has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.3%.

Columbus McKinnon Trading Up 0.6 %

Shares of Columbus McKinnon stock opened at $42.18 on Tuesday. The firm has a market cap of $1.21 billion, a PE ratio of 24.96 and a beta of 1.29. The company has a 50 day simple moving average of $42.07 and a two-hundred day simple moving average of $38.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 1.16. Columbus McKinnon has a 1 year low of $30.29 and a 1 year high of $44.97.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Columbus McKinnon had a return on equity of 9.88% and a net margin of 4.86%. The business had revenue of $254.14 million for the quarter, compared to analyst estimates of $254.00 million. During the same period last year, the company earned $0.72 EPS. Analysts expect that Columbus McKinnon will post 2.95 earnings per share for the current fiscal year.

Insider Activity

In other Columbus McKinnon news, CFO Gregory P. Rustowicz sold 9,461 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total transaction of $392,063.84. Following the completion of the transaction, the chief financial officer now owns 79,012 shares of the company’s stock, valued at $3,274,257.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Columbus McKinnon news, CFO Gregory P. Rustowicz sold 9,461 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $41.44, for a total value of $392,063.84. Following the sale, the chief financial officer now owns 79,012 shares in the company, valued at $3,274,257.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Lara Mario Y. Ramos sold 9,071 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now owns 12,266 shares in the company, valued at approximately $472,241. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMCO. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. StockNews.com downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, DA Davidson increased their target price on shares of Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, February 5th.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.