Fox Run Management L.L.C. increased its holdings in Manitowoc Company Inc (NYSE:MTW) by 69.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,049 shares of the industrial products company’s stock after purchasing an additional 7,815 shares during the period. Fox Run Management L.L.C. owned approximately 0.05% of Manitowoc worth $457,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Private Advisor Group LLC bought a new stake in Manitowoc during the second quarter worth about $269,000. First Trust Advisors LP bought a new stake in Manitowoc during the second quarter worth about $346,000. PNC Financial Services Group Inc. grew its stake in Manitowoc by 476.5% during the second quarter. PNC Financial Services Group Inc. now owns 14,187 shares of the industrial products company’s stock worth $366,000 after buying an additional 11,726 shares during the last quarter. Stifel Financial Corp grew its stake in Manitowoc by 64.7% during the first quarter. Stifel Financial Corp now owns 13,383 shares of the industrial products company’s stock worth $380,000 after buying an additional 5,258 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in Manitowoc during the first quarter worth about $453,000. 82.02% of the stock is owned by hedge funds and other institutional investors.
MTW has been the topic of several research analyst reports. Macquarie upped their price objective on shares of Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Robert W. Baird raised shares of Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Thursday, September 20th. Citigroup decreased their price target on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 8th. Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating in a research note on Monday, July 16th. Finally, Seaport Global Securities set a $31.00 price target on shares of Manitowoc and gave the company a “buy” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.92.
Manitowoc (NYSE:MTW) last released its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.17. Manitowoc had a net margin of 2.53% and a return on equity of 2.77%. The business had revenue of $495.30 million for the quarter, compared to analysts’ expectations of $458.03 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Manitowoc’s revenue was up 25.5% compared to the same quarter last year. As a group, equities analysts anticipate that Manitowoc Company Inc will post 0.53 EPS for the current fiscal year.
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 under the National Crane brand.
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