The Manitowoc Company, Inc. (NYSE:MTW – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.93 and traded as high as $13.41. Manitowoc shares last traded at $13.2430, with a volume of 240,731 shares traded.
Wall Street Analyst Weigh In
MTW has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Manitowoc in a report on Wednesday, May 20th. Wall Street Zen downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Barclays dropped their price target on shares of Manitowoc from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Manitowoc presently has a consensus rating of “Strong Sell” and an average target price of $10.33.
Check Out Our Latest Report on Manitowoc
Manitowoc Stock Up 2.8%
Manitowoc (NYSE:MTW – Get Free Report) last issued its earnings results on Tuesday, May 5th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.17). Manitowoc had a return on equity of 1.85% and a net margin of 0.33%.The firm had revenue of $494.60 million during the quarter, compared to the consensus estimate of $517.00 million. During the same period last year, the business earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. On average, equities research analysts expect that The Manitowoc Company, Inc. will post 0.68 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Kenneth W. Krueger sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $11.80, for a total value of $106,200.00. Following the completion of the transaction, the director directly owned 162,672 shares of the company’s stock, valued at approximately $1,919,529.60. This represents a 5.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.96% of the company’s stock.
Institutional Investors Weigh In On Manitowoc
Hedge funds have recently made changes to their positions in the company. Front Street Capital Management Inc. increased its holdings in shares of Manitowoc by 1.8% during the first quarter. Front Street Capital Management Inc. now owns 3,321,784 shares of the industrial products company’s stock worth $38,699,000 after buying an additional 57,761 shares in the last quarter. Royal Bank of Canada raised its position in shares of Manitowoc by 55.1% during the first quarter. Royal Bank of Canada now owns 84,508 shares of the industrial products company’s stock worth $984,000 after acquiring an additional 30,019 shares during the last quarter. Empowered Funds LLC raised its holdings in Manitowoc by 8.6% during the 1st quarter. Empowered Funds LLC now owns 224,437 shares of the industrial products company’s stock worth $2,615,000 after purchasing an additional 17,694 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Manitowoc by 10.2% during the first quarter. Quantinno Capital Management LP now owns 54,639 shares of the industrial products company’s stock worth $637,000 after buying an additional 5,058 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Manitowoc by 14.1% during the 1st quarter. Lazard Asset Management LLC now owns 137,922 shares of the industrial products company’s stock valued at $1,607,000 after acquiring an additional 17,091 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.
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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