Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) declared a quarterly dividend on Monday, March 20th, Zacks reports. Investors of record on Friday, May 5th will be paid a dividend of 0.07 per share by the industrial products company on Monday, May 15th. This represents a $0.28 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, May 4th.

Columbus McKinnon has increased its dividend payment by an average of 5.5% annually over the last three years and has increased its dividend every year for the last 1 years. Columbus McKinnon has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbus McKinnon to earn $2.99 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 9.4%.

Columbus McKinnon Stock Performance

CMCO stock traded down $0.02 during midday trading on Wednesday, hitting $35.87. The stock had a trading volume of 3,234 shares, compared to its average volume of 103,355. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 22.29 and a beta of 1.23. Columbus McKinnon has a 52 week low of $23.54 and a 52 week high of $46.54. The stock has a 50-day simple moving average of $36.63 and a 200 day simple moving average of $32.07. The company has a current ratio of 2.15, a quick ratio of 1.22 and a debt-to-equity ratio of 0.54.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last issued its earnings results on Wednesday, February 1st. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.60 by $0.12. The firm had revenue of $230.40 million during the quarter, compared to analysts' expectations of $228.49 million. Columbus McKinnon had a return on equity of 10.72% and a net margin of 4.95%. Columbus McKinnon's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. As a group, equities research analysts anticipate that Columbus McKinnon will post 2.87 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Columbus McKinnon from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Columbus McKinnon currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its holdings in shares of Columbus McKinnon by 28.0% during the first quarter. Prudential Financial Inc. now owns 6,204 shares of the industrial products company's stock valued at $263,000 after acquiring an additional 1,359 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Columbus McKinnon by 7.0% in the first quarter. Loomis Sayles & Co. L P now owns 361,037 shares of the industrial products company's stock valued at $15,308,000 after buying an additional 23,575 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Columbus McKinnon by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,364,202 shares of the industrial products company's stock valued at $57,843,000 after buying an additional 8,782 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Columbus McKinnon by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,490,412 shares of the industrial products company's stock valued at $63,195,000 after buying an additional 22,404 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Columbus McKinnon by 57.1% in the first quarter. MetLife Investment Management LLC now owns 15,826 shares of the industrial products company's stock valued at $671,000 after buying an additional 5,752 shares in the last quarter. 96.01% of the stock is owned by institutional investors.

Columbus McKinnon Company Profile

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Columbus McKinnon Corp. engages in the design, manufacture, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.

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