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The Manitowoc Company, Inc. (NYSE:MTW - Get Rating) CEO Aaron H. Ravenscroft purchased 2,000 shares of the company's stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average cost of $9.02 per share, with a total value of $18,040.00. Following the completion of the acquisition, the chief executive officer now owns 218,951 shares in the company, valued at approximately $1,974,938.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Manitowoc Price Performance
Shares of Manitowoc stock traded up $0.23 during trading on Monday, reaching $9.16. 4,200 shares of the company's stock were exchanged, compared to its average volume of 293,163. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.74. The Manitowoc Company, Inc. has a 1-year low of $8.68 and a 1-year high of $23.26. The company has a market cap of $322.23 million, a P/E ratio of 22.33 and a beta of 2.11. The firm's 50-day moving average price is $10.42 and its 200 day moving average price is $12.20.
Manitowoc (NYSE:MTW - Get Rating) last posted its earnings results on Thursday, August 4th. The industrial products company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.15). The firm had revenue of $497.20 million during the quarter, compared to the consensus estimate of $553.68 million. Manitowoc had a net margin of 0.77% and a return on equity of 3.05%. Manitowoc's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, research analysts anticipate that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year. Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised 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 valued at $54,827,000 after buying an additional 95,428 shares during the last quarter. Front Street Capital Management Inc. raised its holdings in Manitowoc by 4.2% during the 2nd quarter. Front Street Capital Management Inc. now owns 2,411,636 shares of the industrial products company's stock worth $25,395,000 after purchasing an additional 97,960 shares during the last quarter. Invesco Ltd. raised its holdings in Manitowoc by 14.5% during the 1st quarter. Invesco Ltd. now owns 2,227,321 shares of the industrial products company's stock worth $33,588,000 after purchasing an additional 281,654 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Manitowoc by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,896,829 shares of the industrial products company's stock worth $28,539,000 after purchasing an additional 12,753 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Manitowoc by 15.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,848,126 shares of the industrial products company's stock worth $34,357,000 after purchasing an additional 249,102 shares during the last quarter. Institutional investors own 75.77% of the company's stock. Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Citigroup lifted their price target on Manitowoc to $12.00 in a report on Monday, August 15th. UBS Group dropped their price objective on Manitowoc from $19.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, July 21st. Wells Fargo & Company dropped their price objective on Manitowoc from $13.00 to $12.00 and set an "underweight" rating for the company in a report on Monday, August 8th. JPMorgan Chase & Co. dropped their price objective on Manitowoc from $14.50 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, July 12th. Finally, Credit Suisse Group set a $12.00 price objective on Manitowoc in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $13.07.Manitowoc Company Profile (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.See AlsoGet a free copy of the StockNews.com research report on Manitowoc (MTW)Did FedEx Just Deliver A Buying Opportunity? Autozone Shifts Back Into Rally-Mode, New Highs Are In SightUpwork Shares Stumble into Bargain Territory Kroger’s is Your One-Stop Consumer Staples StockAdobe Perfects the Art of the Faceplant for Investors
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