Manitowoc Company Inc (MTW) Position Trimmed by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in shares of Manitowoc Company Inc (NYSE:MTW) by 75.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,250 shares of the industrial products company’s stock after selling 147,750 shares during the period. Gabelli Funds LLC owned 0.14% of Manitowoc worth $1,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTW. Schwab Charles Investment Management Inc. increased its holdings in Manitowoc by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 568,164 shares of the industrial products company’s stock worth $3,415,000 after buying an additional 37,782 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Manitowoc by 17.1% during the second quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock worth $912,000 after buying an additional 22,133 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Manitowoc by 27.2% during the second quarter. Alliancebernstein L.P. now owns 260,583 shares of the industrial products company’s stock worth $1,566,000 after buying an additional 55,663 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Manitowoc by 14.2% during the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock worth $180,000 after buying an additional 3,733 shares during the last quarter. Finally, Nationwide Fund Advisors increased its holdings in Manitowoc by 1.8% during the second quarter. Nationwide Fund Advisors now owns 106,310 shares of the industrial products company’s stock worth $639,000 after buying an additional 1,926 shares during the last quarter.

A number of brokerages recently weighed in on MTW. Stifel Nicolaus lowered their target price on shares of Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird restated a “buy” rating and set a $47.00 target price on shares of Manitowoc in a report on Friday, November 24th. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Monday, November 20th. Deutsche Bank lowered their target price on shares of Manitowoc from $44.00 to $36.00 and set a “hold” rating on the stock in a report on Monday. Finally, Zacks Investment Research downgraded shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Manitowoc has a consensus rating of “Hold” and a consensus price target of $39.92.

In related news, Director Charles David Myers acquired 3,854 shares of Manitowoc stock in a transaction on Wednesday, November 29th. The stock was purchased at an average cost of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.82% of the company’s stock.

Manitowoc Company Inc (NYSE MTW) opened at $33.95 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc Company Inc has a 52-week low of $21.00 and a 52-week high of $44.03.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The company had revenue of $481.50 million for the quarter, compared to the consensus estimate of $423.27 million. During the same period last year, the firm earned ($0.24) earnings per share. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. equities research analysts expect that Manitowoc Company Inc will post 0.54 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Manitowoc Company Inc (MTW) Position Trimmed by Gabelli Funds LLC” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://ledgergazette.com/2018/02/14/manitowoc-company-inc-mtw-position-trimmed-by-gabelli-funds-llc.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).

Institutional Ownership by Quarter for Manitowoc (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.

Leave a Reply