The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan Acquires 2,500 Shares

The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $8.53 per share, with a total value of $21,325.00. Following the acquisition, the chief financial officer now owns 154,441 shares in the company, valued at $1,317,381.73. The trade was a 1.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Manitowoc Trading Up 2.3 %

Shares of NYSE:MTW opened at $10.05 on Friday. The stock has a market cap of $356.19 million, a PE ratio of 6.48 and a beta of 1.92. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The Manitowoc Company, Inc. has a 12-month low of $7.06 and a 12-month high of $13.46. The business has a 50 day moving average of $8.59 and a 200-day moving average of $9.44.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The firm had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. During the same period in the prior year, the company earned $0.14 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Institutional Trading of Manitowoc

Hedge funds and other institutional investors have recently bought and sold shares of the business. Front Street Capital Management Inc. increased its holdings in shares of Manitowoc by 7.8% during the fourth quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company’s stock worth $30,764,000 after purchasing an additional 243,077 shares during the period. Kennedy Capital Management LLC raised its holdings in Manitowoc by 61.9% in the 4th quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock valued at $5,558,000 after acquiring an additional 232,744 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock valued at $5,379,000 after acquiring an additional 397,837 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Manitowoc by 35.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company’s stock valued at $5,025,000 after acquiring an additional 144,390 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Manitowoc by 10.6% during the 4th quarter. Voya Investment Management LLC now owns 533,738 shares of the industrial products company’s stock worth $4,873,000 after purchasing an additional 51,217 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

MTW has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group lowered their price target on Manitowoc from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.46.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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.