Schwab Charles Investment Management Inc. Acquires 37,782 Shares of Manitowoc Company, Inc. (The) (NYSE:MTW)

Schwab Charles Investment Management Inc. lifted its stake in shares of Manitowoc Company, Inc. (The) (NYSE:MTW) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 568,164 shares of the industrial products company’s stock after acquiring an additional 37,782 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.40% of Manitowoc Company, Inc. (The) worth $3,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Manitowoc Company, Inc. (The) by 33.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,148,039 shares of the industrial products company’s stock worth $40,744,000 after purchasing an additional 1,771,886 shares in the last quarter. Stifel Financial Corp purchased a new position in Manitowoc Company, Inc. (The) in the 1st quarter worth approximately $213,000. Ameriprise Financial Inc. lifted its holdings in Manitowoc Company, Inc. (The) by 8.7% in the 1st quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 2,117 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Manitowoc Company, Inc. (The) by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after purchasing an additional 45,461 shares in the last quarter. Finally, Invictus RG purchased a new position in Manitowoc Company, Inc. (The) in the 1st quarter worth approximately $190,000. 80.94% of the stock is currently owned by institutional investors.

Manitowoc Company, Inc. (NYSE MTW) opened at 9.31 on Friday. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $9.97. The company’s market cap is $1.31 billion. The stock’s 50 day moving average price is $8.74 and its 200-day moving average price is $6.93.

Manitowoc Company, Inc. (The) (NYSE:MTW) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The firm had revenue of $394.60 million for the quarter, compared to analysts’ expectations of $396.44 million. During the same quarter last year, the company posted $0.03 earnings per share. Manitowoc Company, Inc. (The)’s revenue was down 13.8% on a year-over-year basis. On average, equities analysts predict that Manitowoc Company, Inc. will post ($0.14) earnings per share for the current fiscal year.

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Several analysts have recently issued reports on MTW shares. Zacks Investment Research raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Monday, September 11th. Citigroup Inc. upped their price objective on Manitowoc Company, Inc. (The) from $8.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. BidaskClub downgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Deutsche Bank AG reissued a “hold” rating and set a $8.07 target price (up previously from $7.85) on shares of Manitowoc Company, Inc. (The) in a research report on Monday, October 9th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $10.50 target price on shares of Manitowoc Company, Inc. (The) in a research report on Friday, October 6th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.19.

About Manitowoc Company, Inc. (The)

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.

Institutional Ownership by Quarter for Manitowoc Company, Inc. (The) (NYSE:MTW)

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