Manitowoc Company Inc (NYSE:MTW) CFO David J. Antoniuk purchased 7,000 shares of Manitowoc stock in a transaction that occurred on Tuesday, March 13th. The shares were bought at an average price of $30.33 per share, with a total value of $212,310.00. Following the completion of the transaction, the chief financial officer now owns 31,886 shares of the company’s stock, valued at approximately $967,102.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE:MTW opened at $27.83 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.76 and a debt-to-equity ratio of 0.39. Manitowoc Company Inc has a 1 year low of $21.20 and a 1 year high of $44.03.
Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). The firm had revenue of $481.50 million during the quarter, compared to analyst estimates of $423.27 million. Manitowoc had a negative return on equity of 1.54% and a net margin of 0.59%. The business’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) earnings per share. equities analysts anticipate that Manitowoc Company Inc will post 0.43 earnings per share for the current fiscal year.
MTW has been the subject of several recent research reports. SunTrust Banks lifted their price target on Manitowoc to $37.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Credit Suisse Group raised their price objective on Manitowoc from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Zacks Investment Research lowered Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. Robert W. Baird lowered Manitowoc from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $27.95 to $33.00 in a report on Friday, March 2nd. Finally, ValuEngine lowered Manitowoc from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.54.
Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of Manitowoc by 343.7% in the third quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock worth $1,200,000 after acquiring an additional 103,289 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Manitowoc by 2.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock worth $5,224,000 after acquiring an additional 12,221 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Manitowoc in the fourth quarter worth approximately $9,247,000. Private Advisor Group LLC boosted its stake in shares of Manitowoc by 46.4% in the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Van Den Berg Management I Inc. boosted its stake in shares of Manitowoc by 18.4% in the third quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock worth $16,109,000 after acquiring an additional 278,220 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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