Manitowoc Co. (MTW) Shares Sold by GSA Capital Partners LLP
GSA Capital Partners LLP reduced its stake in shares of Manitowoc Co. (NYSE:MTW) by 41.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,903 shares of the company’s stock after selling 27,737 shares during the period. GSA Capital Partners LLP’s holdings in Manitowoc were worth $212,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MTW. Investec Asset Management LTD raised its position in Manitowoc by 2,181.1% in the first quarter. Investec Asset Management LTD now owns 3,709,667 shares of the company’s stock worth $16,063,000 after buying an additional 3,547,040 shares in the last quarter. Rutabaga Capital Management LLC MA raised its position in Manitowoc by 75.5% in the second quarter. Rutabaga Capital Management LLC MA now owns 3,159,671 shares of the company’s stock worth $17,220,000 after buying an additional 1,359,671 shares in the last quarter. HBK Investments L P raised its position in Manitowoc by 2,733.5% in the first quarter. HBK Investments L P now owns 1,020,046 shares of the company’s stock worth $4,417,000 after buying an additional 984,046 shares in the last quarter. JPMorgan Chase & Co. raised its position in Manitowoc by 3,625.0% in the first quarter. JPMorgan Chase & Co. now owns 900,788 shares of the company’s stock worth $3,901,000 after buying an additional 876,606 shares in the last quarter. Finally, Norges Bank acquired a new position in Manitowoc during the fourth quarter worth approximately $11,926,000. 78.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Manitowoc Co. (NYSE:MTW) traded up 4.13% on Friday, reaching $4.79. 1,491,646 shares of the company were exchanged. The firm’s market capitalization is $658.99 million. The stock’s 50-day moving average is $4.69 and its 200 day moving average is $5.17. Manitowoc Co. has a 12-month low of $4.00 and a 12-month high of $17.68.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Manitowoc had a positive return on equity of 9.23% and a negative net margin of 5.97%. The firm had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $466.92 million. During the same period in the prior year, the business posted $0.22 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. On average, analysts forecast that Manitowoc Co. will post ($0.09) EPS for the current year.
MTW has been the topic of a number of recent research reports. Vetr raised shares of Manitowoc from a “hold” rating to a “buy” rating and set a $5.95 price target on the stock in a research report on Monday, June 6th. Zacks Investment Research lowered shares of Manitowoc from a “buy” rating to a “sell” rating in a research report on Tuesday, July 19th. Deutsche Bank AG initiated coverage on shares of Manitowoc in a research report on Tuesday, September 6th. They set a “hold” rating and a $5.25 price target on the stock. Credit Suisse Group AG reaffirmed a “hold” rating and set a $5.50 price target on shares of Manitowoc in a research report on Tuesday, August 9th. Finally, Citigroup Inc. reduced their price objective on shares of Manitowoc from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Manitowoc currently has a consensus rating of “Hold” and a consensus price target of $10.01.
Manitowoc Company Profile
The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.
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