New York State Common Retirement Fund lifted its holdings in shares of Manitowoc Company Inc (NYSE:MTW) by 58.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,990 shares of the industrial products company’s stock after acquiring an additional 77,790 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Manitowoc worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Manitowoc by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 16,065 shares in the last quarter. Advisor Group Inc. lifted 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 3,733 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Manitowoc during the 2nd quarter valued at $198,000. Finally, Cambridge Investment Research Advisors Inc. lifted 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 in the last quarter.
Several research firms recently weighed in on MTW. Deutsche Bank restated a “hold” rating and set a $32.28 target price (up previously from $31.40) on shares of Manitowoc in a report on Monday, October 9th. Robert W. Baird reiterated a “buy” rating and issued a $47.00 price objective on shares of Manitowoc in a report on Friday, November 24th. Zacks Investment Research lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Monday, November 20th. Finally, Jefferies Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Manitowoc in a report on Friday, October 6th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $37.89.
Manitowoc Company Inc (MTW) opened at $39.34 on Tuesday. 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 current ratio of 1.76 and a quick ratio of 0.67. The company has a market cap of $1,384.12, a price-to-earnings ratio of -22.87 and a beta of 1.44.
Manitowoc (NYSE:MTW) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.44. The business had revenue of $399.40 million for the quarter, compared to analyst estimates of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.12) EPS. equities analysts expect that Manitowoc Company Inc will post -0.19 earnings per share for the current fiscal year.
In related news, Director Charles David Myers bought 3,854 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.82% of the company’s stock.
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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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