Thomas G. Musial Sells 3,327 Shares of Manitowoc Company Inc (MTW) Stock

Manitowoc Company Inc (NYSE:MTW) SVP Thomas G. Musial sold 3,327 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $27.92, for a total transaction of $92,889.84. Following the completion of the transaction, the senior vice president now owns 50,965 shares of the company’s stock, valued at $1,422,942.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE:MTW opened at $27.49 on Tuesday. The firm has a market cap of $1,005.98, a price-to-earnings ratio of -105.73 and a beta of 1.54. Manitowoc Company Inc has a 1-year low of $21.20 and a 1-year high of $44.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.89 and a current ratio of 1.76.

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Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). The business had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. Manitowoc had a negative return on equity of 1.54% and a net margin of 0.59%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period last year, the company posted ($0.24) earnings per share. equities research analysts anticipate that Manitowoc Company Inc will post 0.43 EPS for the current year.

Several large investors have recently modified their holdings of MTW. Cipher Capital LP acquired a new stake in shares of Manitowoc during the third quarter worth $109,000. Invictus RG acquired a new stake in shares of Manitowoc during the third quarter worth $124,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Manitowoc during the fourth quarter worth $129,000. Ameriprise Financial Inc. increased its holdings in shares of Manitowoc by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 3,733 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Manitowoc in the 3rd quarter worth about $225,000. 79.15% of the stock is currently owned by institutional investors.

MTW has been the topic of several recent analyst reports. JPMorgan Chase cut shares of Manitowoc from a “neutral” rating to an “underweight” rating and cut their price target for the company from $30.00 to $29.00 in a report on Monday, February 12th. SunTrust Banks upped their price target on shares of Manitowoc to $37.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Robert W. Baird cut shares of Manitowoc from an “outperform” rating to a “neutral” rating and upped their price target for the company from $27.95 to $33.00 in a report on Friday, March 2nd. Zacks Investment Research raised shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Finally, ValuEngine cut shares of Manitowoc from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Manitowoc presently has an average rating of “Hold” and an average target price of $38.54.

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About Manitowoc

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

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