Swiss National Bank lifted its holdings in Manitowoc Company Inc (NYSE:MTW) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,650 shares of the industrial products company’s stock after purchasing an additional 1,400 shares during the quarter. Swiss National Bank owned 0.19% of Manitowoc worth $1,184,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in Manitowoc by 513.2% during the third quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 4,193 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Manitowoc by 38.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,495 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 1,800 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Manitowoc in the fourth quarter valued at $125,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Manitowoc in the fourth quarter valued at $165,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Manitowoc by 400.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,125 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 8,100 shares during the period. 76.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE MTW traded down $1.89 during mid-day trading on Monday, reaching $9.23. The company had a trading volume of 21,338 shares, compared to its average volume of 686,685. The firm has a market cap of $393.43 million, a price-to-earnings ratio of 7.11, a PEG ratio of 1.75 and a beta of 2.14. The business’s 50-day simple moving average is $13.83 and its 200 day simple moving average is $14.29. Manitowoc Company Inc has a one year low of $10.49 and a one year high of $19.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.98.
Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $463.40 million during the quarter, compared to analysts’ expectations of $493.31 million. Manitowoc had a net margin of 2.54% and a return on equity of 11.03%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. On average, sell-side analysts anticipate that Manitowoc Company Inc will post 0.67 EPS for the current year.
MTW has been the subject of several research analyst reports. Citigroup raised shares of Manitowoc from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $14.00 in a report on Friday, February 14th. Zacks Investment Research downgraded shares of Manitowoc from a “hold” rating to a “strong sell” rating and set a $14.00 price objective for the company. in a research report on Wednesday, February 12th. Royal Bank of Canada restated a “hold” rating and set a $20.00 price objective on shares of Manitowoc in a research report on Monday, January 20th. Finally, ValuEngine cut Manitowoc from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Manitowoc presently has a consensus rating of “Hold” and an average price target of $16.67.
Manitowoc Company Profile
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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