Fox Run Management L.L.C. bought a new position in shares of Manitowoc Company Inc (NYSE:MTW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,301 shares of the industrial products company’s stock, valued at approximately $799,000. Fox Run Management L.L.C. owned 0.06% of Manitowoc at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its stake in Manitowoc by 5.2% during the third quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock worth $20,997,000 after buying an additional 116,087 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Manitowoc during the third quarter worth about $308,000. Jane Street Group LLC boosted its stake in Manitowoc by 210.2% during the third quarter. Jane Street Group LLC now owns 77,553 shares of the industrial products company’s stock worth $698,000 after buying an additional 52,554 shares during the period. Private Advisor Group LLC boosted its stake in Manitowoc by 46.4% during the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock worth $289,000 after buying an additional 10,050 shares during the period. Finally, Invictus RG purchased a new position in Manitowoc during the third quarter worth about $124,000.
Several brokerages have weighed in on MTW. SunTrust Banks increased their target price on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research lowered shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 21st. Barclays began coverage on shares of Manitowoc in a research note on Tuesday, December 12th. They set an “overweight” rating and a $45.00 target price for the company. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Manitowoc in a research note on Friday, November 24th. Finally, Seaport Global Securities raised shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Monday, November 20th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $39.64.
In other Manitowoc news, Director Charles David Myers purchased 3,854 shares of Manitowoc stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, with a total value of $150,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.82% of the stock is currently owned by corporate insiders.
Shares of Manitowoc Company Inc (NYSE MTW) opened at $39.90 on Friday. The stock has a market cap of $1,400.00, a PE ratio of -29.12 and a beta of 1.56. Manitowoc Company Inc has a 1 year low of $21.00 and a 1 year high of $42.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76.
Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.44. The business had revenue of $399.40 million for the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.12) earnings per share. research analysts expect that Manitowoc Company Inc will post -0.18 EPS for the current fiscal year.
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.
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