The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) CFO Brian P. Regan purchased 1,200 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $8.86 per share, for a total transaction of $10,632.00. Following the transaction, the chief financial officer now owns 109,486 shares of the company's stock, valued at approximately $970,045.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Manitowoc Price Performance
Manitowoc stock opened at $8.63 on Tuesday. The business has a 50-day simple moving average of $9.66 and a 200 day simple moving average of $10.88. The Manitowoc Company, Inc. has a 52 week low of $8.50 and a 52 week high of $17.65. The stock has a market cap of $303.06 million, a price-to-earnings ratio of -31.96 and a beta of 1.84. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69.
Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.41%. The company had revenue of $524.80 million during the quarter, compared to analysts' expectations of $516.49 million. During the same period in the prior year, the business earned $0.22 earnings per share. The company's revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts forecast that The Manitowoc Company, Inc. will post 0.62 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
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A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. The Goldman Sachs Group decreased their price objective on Manitowoc from $13.00 to $11.30 and set a "sell" rating on the stock in a research note on Friday, August 9th. Robert W. Baird cut their target price on Manitowoc from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday. Barclays decreased their price target on Manitowoc from $12.00 to $9.00 and set an "underweight" rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Manitowoc from a "sell" rating to a "hold" rating in a report on Friday. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.47.
Check Out Our Latest Research Report on Manitowoc
Hedge Funds Weigh In On Manitowoc
A number of institutional investors have recently made changes to their positions in MTW. US Bancorp DE grew its position in Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company's stock worth $27,000 after acquiring an additional 1,327 shares in the last quarter. CWM LLC raised its holdings in shares of Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company's stock valued at $35,000 after buying an additional 1,482 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Manitowoc by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company's stock worth $563,000 after buying an additional 1,516 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Manitowoc by 63.0% in the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company's stock worth $55,000 after buying an additional 1,828 shares in the last quarter. Finally, Goldstein Advisors LLC grew its position in Manitowoc by 14.0% during the second quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company's stock valued at $188,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 78.66% of the company's stock.
About Manitowoc
(
Get Free Report)
The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.
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