Isthmus Partners LLC lifted its position in shares of Manitowoc Company Inc (NYSE:MTW) by 44.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,320 shares of the industrial products company’s stock after buying an additional 17,638 shares during the quarter. Isthmus Partners LLC’s holdings in Manitowoc were worth $847,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of MTW. Victory Capital Management Inc. grew its stake in shares of Manitowoc by 72.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,667,174 shares of the industrial products company’s stock worth $39,996,000 after acquiring an additional 699,680 shares during the period. Marshall Wace LLP bought a new position in shares of Manitowoc during the 3rd quarter worth $5,693,000. Dimensional Fund Advisors LP grew its stake in shares of Manitowoc by 9.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,586,486 shares of the industrial products company’s stock worth $62,050,000 after acquiring an additional 227,048 shares during the period. BlackRock Inc. grew its stake in shares of Manitowoc by 8.8% during the 2nd quarter. BlackRock Inc. now owns 2,459,641 shares of the industrial products company’s stock worth $63,605,000 after acquiring an additional 197,928 shares during the period. Finally, Schneider Capital Management Corp boosted its stake in Manitowoc by 72.6% in the 3rd quarter. Schneider Capital Management Corp now owns 360,674 shares of the industrial products company’s stock worth $8,653,000 after purchasing an additional 151,701 shares during the period. Institutional investors own 82.70% of the company’s stock.
Several research analysts have commented on MTW shares. Zacks Investment Research downgraded Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Royal Bank of Canada cut their target price on Manitowoc to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 7th. They noted that the move was a valuation call. ValuEngine downgraded Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Finally, TheStreet downgraded Manitowoc from a “c” rating to a “d+” rating in a research note on Monday, November 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Manitowoc has a consensus rating of “Hold” and an average target price of $29.33.
NYSE:MTW opened at $15.70 on Friday. Manitowoc Company Inc has a twelve month low of $13.22 and a twelve month high of $38.88. The stock has a market capitalization of $586.81 million, a price-to-earnings ratio of 25.77 and a beta of 1.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.69 and a current ratio of 1.75.
Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. Manitowoc had a positive return on equity of 3.45% and a negative net margin of 3.63%. The firm had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $488.02 million. During the same quarter last year, the firm posted ($0.15) EPS. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Manitowoc Company Inc will post 1.27 earnings per share for the current fiscal year.
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The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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