Manitowoc Company, Inc. (The) (NYSE:MTW) Director Charles David Myers acquired 3,854 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were bought at an average cost of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Manitowoc Company, Inc. (MTW) traded down $0.47 during mid-day trading on Friday, hitting $39.71. 595,752 shares of the company were exchanged, compared to its average volume of 355,821. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc Company, Inc. has a 12-month low of $21.00 and a 12-month high of $42.12.

Manitowoc (NYSE:MTW) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm had revenue of $399.40 million during the quarter, compared to the consensus estimate of $385.01 million. During the same quarter in the previous year, the firm posted ($1.12) earnings per share. The company’s revenue was up 14.2% compared to the same quarter last year. sell-side analysts anticipate that Manitowoc Company, Inc. will post -0.19 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Manitowoc by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock valued at $63,834,000 after acquiring an additional 471,356 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Manitowoc by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 9,113,220 shares of the industrial products company’s stock valued at $82,019,000 after acquiring an additional 465,797 shares in the last quarter. Southpoint Capital Advisors LP boosted its stake in Manitowoc by 29.2% in the second quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock valued at $46,578,000 after acquiring an additional 1,750,000 shares in the last quarter. Franklin Resources Inc. boosted its stake in Manitowoc by 14.2% in the second quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock valued at $21,331,000 after acquiring an additional 440,000 shares in the last quarter. Finally, State Street Corp boosted its stake in Manitowoc by 6.4% in the second quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock valued at $14,926,000 after acquiring an additional 150,097 shares in the last quarter. Institutional investors own 81.04% of the company’s stock.

MTW has been the topic of a number of recent research reports. SunTrust Banks reaffirmed a “hold” rating and set a $28.00 price objective on shares of Manitowoc in a research report on Friday, October 27th. BidaskClub upgraded shares of Manitowoc from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Stifel Nicolaus boosted their target price 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. Jefferies Group reiterated a “buy” rating on shares of Manitowoc in a research note on Friday, November 10th. Finally, Citigroup boosted their target price on shares of Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.34.

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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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