Alambic Investment Management L.P. bought a new stake in The Manitowoc Company (NYSE:MTW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 83,800 shares of the industrial products company’s stock, valued at approximately $2,385,000. Alambic Investment Management L.P. owned approximately 0.24% of The Manitowoc as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Raymond James & Associates lifted its stake in shares of The Manitowoc by 5.1% during the 4th quarter. Raymond James & Associates now owns 32,051 shares of the industrial products company’s stock worth $1,261,000 after purchasing an additional 1,563 shares during the period. Virtu Financial LLC lifted its stake in shares of The Manitowoc by 25.2% during the 4th quarter. Virtu Financial LLC now owns 13,048 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 2,628 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of The Manitowoc during the 4th quarter worth $129,000. Jefferies Group LLC purchased a new position in shares of The Manitowoc during the 4th quarter worth $225,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of The Manitowoc during the 4th quarter worth $227,000. 81.48% of the stock is currently owned by institutional investors.

In related news, SVP Thomas G. Musial sold 3,327 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $27.92, for a total value of $92,889.84. Following the completion of the sale, the senior vice president now directly owns 50,965 shares in the company, valued at approximately $1,422,942.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David J. Antoniuk purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average price of $30.33 per share, with a total value of $212,310.00. Following the completion of the acquisition, the chief financial officer now owns 31,886 shares in the company, valued at approximately $967,102.38. The disclosure for this purchase can be found here. Corporate insiders own 2.82% of the company’s stock.

A number of research analysts have weighed in on the company. ValuEngine raised The Manitowoc from a “sell” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus reduced their price target on The Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, February 12th. Seaport Global Securities reissued a “buy” rating on shares of The Manitowoc in a research note on Wednesday, April 18th. Barclays reissued a “buy” rating and set a $35.00 price target on shares of The Manitowoc in a research note on Thursday, April 19th. Finally, Deutsche Bank reduced their price target on The Manitowoc from $44.00 to $36.00 and set a “hold” rating on the stock in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.31.

MTW stock opened at $26.81 on Friday. The firm has a market cap of $905.74 million, a PE ratio of -103.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 0.72. The Manitowoc Company has a 52 week low of $25.52 and a 52 week high of $25.85.

The Manitowoc (NYSE:MTW) last released its quarterly earnings data on Monday, May 7th. The industrial products company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $386.10 million during the quarter, compared to the consensus estimate of $374.59 million. The Manitowoc had a return on equity of 1.64% and a net margin of 2.13%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.68) EPS. analysts forecast that The Manitowoc Company will post 0.5 earnings per share for the current fiscal year.

About The Manitowoc

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks the National Crane brand.

Institutional Ownership by Quarter for The Manitowoc (NYSE:MTW)

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