Ameriprise Financial Inc. boosted its position in shares of Manitowoc Company Inc (NYSE:MTW) by 343.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 133,340 shares of the industrial products company’s stock after purchasing an additional 103,289 shares during the quarter. Ameriprise Financial Inc. owned about 0.09% of Manitowoc worth $1,200,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Advisor Group Inc. boosted its holdings in shares of Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 572 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Manitowoc by 1.8% during the 2nd quarter. Nationwide Fund Advisors now owns 106,310 shares of the industrial products company’s stock valued at $639,000 after acquiring an additional 1,926 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Manitowoc by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 175,558 shares of the industrial products company’s stock valued at $1,055,000 after acquiring an additional 1,977 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Manitowoc by 8.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 34,431 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 2,720 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its holdings in shares of Manitowoc by 6.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 44,285 shares of the industrial products company’s stock valued at $266,000 after acquiring an additional 2,777 shares during the last quarter.
In other news, Director Charles David Myers bought 3,854 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $39.12 per share, for a total transaction of $150,768.48. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.82% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on the stock. Deutsche Bank reaffirmed a “hold” rating and set a $32.28 price target (up previously from $31.40) on shares of Manitowoc in a report on Monday, October 9th. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price target on shares of Manitowoc in a report on Friday, November 24th. Zacks Investment Research downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Seaport Global Securities raised shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, November 20th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Manitowoc in a report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $39.64.
Manitowoc Company Inc (MTW) opened at $39.00 on Thursday. Manitowoc Company Inc has a one year low of $21.00 and a one year high of $42.12. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1,370.00, a P/E ratio of -28.47 and a beta of 1.56.
Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm had revenue of $399.40 million for the quarter, compared to analysts’ expectations of $385.01 million. During the same quarter in the prior year, the business earned ($1.12) EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. research analysts expect that Manitowoc Company Inc will post -0.17 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://ledgergazette.com/2018/01/11/manitowoc-company-inc-mtw-position-increased-by-ameriprise-financial-inc.html.
Manitowoc Company Profile
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
Want to see what other hedge funds are holding MTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manitowoc Company Inc (NYSE:MTW).
Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.