Columbus McKinnon (CMCO) Declares $0.07 Dividend

Columbus McKinnon said on March 20, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Previously, the company paid $0.07 per share.

Shares must be purchased before the ex-div date of May 4, 2023 to qualify for the dividend. Shareholders of record as of May 5, 2023 will receive the payment on May 15, 2023.

At the current share price of $35.89 / share, the stock's dividend yield is 0.78%. Looking back five years and taking a sample every week, the average dividend yield has been 0.65%, the lowest has been 0.44%, and the highest has been 1.13%. The standard deviation of yields is 0.16 (n=235).

The current dividend yield is 0.81 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 23.63% Upside

As of March 21, 2023, the average one-year price target for Columbus McKinnon is $44.37. The forecasts range from a low of $42.42 to a high of $47.25. The average price target represents an increase of 23.63% from its latest reported closing price of $35.89.

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The projected annual revenue for Columbus McKinnon is $948MM, an increase of 1.33%. The projected annual non-GAAP EPS is $2.91.

What is the Fund Sentiment?

There are 380 funds or institutions reporting positions in Columbus McKinnon. This is an increase of 4 owner(s) or 1.06% in the last quarter. Average portfolio weight of all funds dedicated to CMCO is 0.16%, a decrease of 1.36%. Total shares owned by institutions increased in the last three months by 0.07% to 36,090K shares. The put/call ratio of CMCO is 0.03, indicating a bullish outlook.

What are Large Shareholders Doing?

Macquarie Group holds 1,503K shares representing 5.25% ownership of the company. In it's prior filing, the firm reported owning 1,463K shares, representing an increase of 2.61%. The firm increased its portfolio allocation in CMCO by 22.72% over the last quarter.

Victory Capital Management holds 1,361K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 1,294K shares, representing an increase of 4.90%. The firm decreased its portfolio allocation in CMCO by 22.81% over the last quarter.

Franklin Resources holds 1,309K shares representing 4.58% ownership of the company. In it's prior filing, the firm reported owning 306K shares, representing an increase of 76.65%. The firm increased its portfolio allocation in CMCO by 11.98% over the last quarter.

Lord, Abbett & Co. holds 1,305K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 1,285K shares, representing an increase of 1.55%. The firm increased its portfolio allocation in CMCO by 23.63% over the last quarter.

DCCAX - Delaware Small Cap Core Fund holds 1,224K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 1,181K shares, representing an increase of 3.47%. The firm increased its portfolio allocation in CMCO by 4.81% 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 story originally appeared on Fintel.