Front Street Capital Management Inc. bought a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,207,113 shares of the industrial products company’s stock, valued at approximately $44,547,000. Manitowoc accounts for approximately 5.1% of Front Street Capital Management Inc.’s holdings, making the stock its 5th largest position. Front Street Capital Management Inc. owned approximately 8.89% of Manitowoc as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MTW. Garner Asset Management Corp acquired a new position in shares of Manitowoc in the 4th quarter valued at $36,000. Tower Research Capital LLC TRC increased its stake in Manitowoc by 131.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after buying an additional 2,575 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Manitowoc during the third quarter worth $47,000. State of Wyoming purchased a new stake in shares of Manitowoc during the 1st quarter worth about $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Manitowoc in the second quarter valued at approximately $84,000. Institutional investors own 78.66% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on MTW shares. Wells Fargo & Company lifted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Thursday, August 13th. Barclays reiterated an “underweight” rating and set a $16.00 price target (up from $11.00) on shares of Manitowoc in a research note on Monday, August 10th. Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $14.00.
Manitowoc Stock Performance
MTW opened at $19.68 on Tuesday. The company has a market capitalization of $709.81 million, a price-to-earnings ratio of 35.79 and a beta of 1.72. The business’s 50-day moving average price is $14.92 and its two-hundred day moving average price is $13.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. The Manitowoc Company, Inc. has a 1 year low of $9.66 and a 1 year high of $21.34.
Manitowoc (NYSE:MTW – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.35. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The firm had revenue of $594.90 million during the quarter, compared to the consensus estimate of $564.00 million. During the same period last year, the company earned $0.08 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Equities analysts expect that The Manitowoc Company, Inc. will post 1 EPS for the current fiscal year.
About Manitowoc
The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.
Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.
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