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Manitowoc (NYSE:MTW - Get Rating) announced its quarterly earnings results on Thursday. The industrial products company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.15), Briefing.com reports. The company had revenue of $497.20 million during the quarter, compared to the consensus estimate of $553.68 million. Manitowoc had a return on equity of 5.14% and a net margin of 0.94%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Manitowoc Stock Down 4.5 %

Shares of MTW traded down $0.53 during mid-day trading on Friday, hitting $11.25. 364,244 shares of the company traded hands, compared to its average volume of 272,764. Manitowoc has a 1-year low of $9.83 and a 1-year high of $27.37. The company has a quick ratio of 0.61, a current ratio of 1.74 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $397.34 million, a PE ratio of 23.44 and a beta of 2.06. The business has a 50 day moving average of $11.30 and a 200 day moving average of $13.78. Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group lowered their target price on shares of Manitowoc from $19.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, July 21st. Credit Suisse Group set a $12.00 price objective on shares of Manitowoc in a research note on Tuesday, July 19th. Robert W. Baird lowered their price objective on shares of Manitowoc from $16.00 to $15.00 in a research note on Wednesday, May 4th. Citigroup lowered their price objective on shares of Manitowoc from $12.50 to $11.50 in a research note on Thursday, July 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Manitowoc from $20.00 to $17.50 and set a "neutral" rating for the company in a research report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.71.Insider Activity

In related news, Director Kenneth W. Krueger acquired 34,500 shares of the business's stock in a transaction dated Friday, June 10th. The shares were purchased at an average price of $12.49 per share, for a total transaction of $430,905.00. Following the completion of the acquisition, the director now directly owns 123,472 shares in the company, valued at approximately $1,542,165.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.52% of the company's stock. Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently modified their holdings of MTW. Front Street Capital Management Inc. increased its holdings in shares of Manitowoc by 14.6% during the first quarter. Front Street Capital Management Inc. now owns 2,313,676 shares of the industrial products company's stock valued at $34,890,000 after acquiring an additional 295,092 shares in the last quarter. Invesco Ltd. increased its holdings in Manitowoc by 14.5% in the 1st quarter. Invesco Ltd. now owns 2,227,321 shares of the industrial products company's stock worth $33,588,000 after buying an additional 281,654 shares during the period. Renaissance Technologies LLC acquired a new position in Manitowoc in the 1st quarter worth approximately $2,217,000. BlackRock Inc. increased its holdings in Manitowoc by 2.7% in the 1st quarter. BlackRock Inc. now owns 3,635,795 shares of the industrial products company's stock worth $54,827,000 after buying an additional 95,428 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Manitowoc by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 1,828,118 shares of the industrial products company's stock worth $27,568,000 after buying an additional 69,212 shares during the period. Institutional investors and hedge funds own 76.36% of the company's stock. About Manitowoc (Get Rating)

The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.Featured ArticlesGet a free copy of the StockNews.com research report on Manitowoc (MTW)How to Use High Beta Stocks to Maximize Your Investing ProfitsCronos Group Inc's Revenues Are Up, Is It Time to Buy?Why Apple Could Be At All-Time Highs By Year EndBeyond Meat Is Not Beyond Hope, And It's CheapBJ’s Wholesale Club Stock Has More Room to Grow

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