Columbus McKinnon (NASDAQ:CMCO) Sees Unusually-High Trading Volume – Here’s What Happened

Columbus McKinnon Co. (NASDAQ:CMCO) saw strong trading volume on Wednesday . 389,270 shares traded hands during trading, an increase of 15% from the previous session’s volume of 337,472 shares.The stock last traded at $20.04 and had previously closed at $20.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson downgraded shares of Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Tuesday.

Columbus McKinnon Stock Down 5.5 %

The company has a 50 day moving average of $36.65 and a 200-day moving average of $35.18. The company has a market capitalization of $565.65 million, a P/E ratio of 37.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. As a group, equities analysts anticipate that Columbus McKinnon Co. will post 2.98 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, February 7th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 52.83%.

Insider Activity

In related news, Director Christopher J. Stephens purchased 1,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, with a total value of $37,340.00. Following the transaction, the director now directly owns 6,014 shares in the company, valued at $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Columbus McKinnon by 13.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock valued at $57,646,000 after buying an additional 184,615 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Columbus McKinnon during the 4th quarter valued at $3,724,000. JPMorgan Chase & Co. increased its holdings in shares of Columbus McKinnon by 183.2% in the 4th quarter. JPMorgan Chase & Co. now owns 76,512 shares of the industrial products company’s stock worth $2,849,000 after purchasing an additional 49,498 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Columbus McKinnon by 95.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 356,232 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Columbus McKinnon by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company’s stock valued at $60,034,000 after purchasing an additional 19,550 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.