Columbus McKinnon said on January 23, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Shareholders of record as of February 9, 2023 will receive the payment on February 21, 2023. Previously, the company paid $0.07 per share.
At the most recent share price of $35.35 / share, the stock’s dividend yield was 0.79%. Additionally, the company’s dividend payout ratio is 0.18, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company’s 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 7.92% Upside
As of January 27, 2023, the average one-year price target for Columbus McKinnon is $38.15. The forecasts range from a low of $35.35 to a high of $42.00. The average price target represents an increase of 7.92% from its latest reported closing price of $35.35.
The projected annual revenue for Columbus McKinnon is $948MM, an increase of 2.90%. The projected annual EPS is $2.91, an increase of 87.77%.
Fund Sentiment
There are 375 funds or institutions reporting positions in Columbus McKinnon. This is a decrease of 27 owner(s) or 6.72%.
Average portfolio weight of all funds dedicated to US:CMCO is 0.1628%, a decrease of 5.3587%. Total shares owned by institutions decreased in the last three months by 0.96% to 36,036K shares.
What are large shareholders doing?
Macquarie Group holds 1,463,456 shares representing 5.11% ownership of the company. In it’s prior filing, the firm reported owning 1,437,235 shares, representing an increase of 1.79%. The firm decreased its portfolio allocation in CMCO by 61.93% over the last quarter.
Victory Capital Management holds 1,293,981 shares representing 4.52% ownership of the company. In it’s prior filing, the firm reported owning 1,311,555 shares, representing a decrease of 1.36%. The firm decreased its portfolio allocation in CMCO by 29.68% over the last quarter.
Lord, Abbett & Co. holds 1,284,924 shares representing 4.49% ownership of the company. In it’s prior filing, the firm reported owning 1,244,659 shares, representing an increase of 3.13%. The firm decreased its portfolio allocation in CMCO by 3.68% over the last quarter.
DCCAX – Delaware Small Cap Core Fund holds 1,223,630 shares representing 4.27% ownership of the company. In it’s prior filing, the firm reported owning 1,181,224 shares, representing an increase of 3.47%. The firm increased its portfolio allocation in CMCO by 4.81% over the last quarter.
Goldman Sachs Group holds 1,217,012 shares representing 4.25% ownership of the company. In it’s prior filing, the firm reported owning 976,200 shares, representing an increase of 19.79%. The firm increased its portfolio allocation in CMCO by 17.61% over the last quarter.
Columbus Mckinnon Background Information
(This description is provided by the company.)
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of motion control products and technologies, automated systems and services that efficiently and ergonomically move, lift, position and secure materials. Key products include hoists, crane components, actuators, rigging tools, light rail workstations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Magnetek is a brand of Columbus McKinnon Corporation.
This article originally appeared on Fintel
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