Schwab Charles Investment Management Inc. raised its stake in Manitowoc Company Inc (NYSE:MTW) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,385 shares of the industrial products company’s stock after buying an additional 12,221 shares during the period. Schwab Charles Investment Management Inc. owned about 0.41% of Manitowoc worth $5,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Cipher Capital LP acquired a new position in Manitowoc during the 3rd quarter valued at approximately $109,000. BNP Paribas Arbitrage SA increased its stake in Manitowoc by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 16,065 shares in the last quarter. Advisor Group Inc. increased its stake in Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 572 shares in the last quarter. SG Americas Securities LLC acquired a new position in Manitowoc during the 3rd quarter valued at approximately $225,000. Finally, Ameriprise Financial Inc. increased its stake in Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares in the last quarter.
A number of research firms have recently weighed in on MTW. Stifel Nicolaus increased their price objective on shares of Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research lowered shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 21st. SunTrust Banks increased their price objective on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Barclays began coverage on shares of Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 price target on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price objective on shares of Manitowoc in a report on Friday, November 24th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Manitowoc currently has a consensus rating of “Buy” and an average price target of $39.64.
Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.44. The firm had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.12) earnings per share. equities research analysts anticipate that Manitowoc Company Inc will post -0.18 EPS for the current year.
In other news, Director Charles David Myers purchased 3,854 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average price of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.82% of the stock is owned by insiders.
Manitowoc Company Profile
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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