Schneider Capital Management Corp Boosts Holdings in Manitowoc Company Inc (MTW)

Schneider Capital Management Corp grew its holdings in shares of Manitowoc Company Inc (NYSE:MTW) by 72.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 360,674 shares of the industrial products company’s stock after acquiring an additional 151,701 shares during the quarter. Manitowoc makes up 1.7% of Schneider Capital Management Corp’s investment portfolio, making the stock its 17th biggest position. Schneider Capital Management Corp’s holdings in Manitowoc were worth $8,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Manitowoc by 7.7% in the first quarter. Royal Bank of Canada now owns 33,024 shares of the industrial products company’s stock worth $940,000 after buying an additional 2,367 shares during the period. Wells Fargo & Company MN increased its position in Manitowoc by 5.2% during the 3rd quarter. Wells Fargo & Company MN now owns 63,518 shares of the industrial products company’s stock valued at $1,525,000 after purchasing an additional 3,111 shares during the period. Rhumbline Advisers increased its position in Manitowoc by 8.9% during the 2nd quarter. Rhumbline Advisers now owns 39,808 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 3,255 shares during the period. TCW Group Inc. increased its position in Manitowoc by 1.9% during the 2nd quarter. TCW Group Inc. now owns 183,519 shares of the industrial products company’s stock valued at $4,746,000 after purchasing an additional 3,507 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Manitowoc by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,359,438 shares of the industrial products company’s stock valued at $61,015,000 after purchasing an additional 7,343 shares during the period. 83.83% of the stock is currently owned by institutional investors.

MTW has been the topic of a number of research analyst reports. Seaport Global Securities set a $31.00 price objective on shares of Manitowoc and gave the company a “buy” rating in a research report on Wednesday, August 8th. Stifel Nicolaus reissued a “buy” rating and set a $33.00 price objective on shares of Manitowoc in a research report on Sunday, August 12th. Macquarie boosted their price objective on shares of Manitowoc from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Citigroup reduced their price objective on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada reduced their price objective on shares of Manitowoc to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.50.

Shares of MTW stock opened at $18.96 on Monday. Manitowoc Company Inc has a 12 month low of $16.74 and a 12 month high of $44.03. The firm has a market cap of $674.71 million, a PE ratio of -72.92 and a beta of 1.62. The company has a current ratio of 1.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.39.

Manitowoc (NYSE:MTW) last announced its earnings results on Monday, November 5th. The industrial products company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.12. Manitowoc had a net margin of 2.56% and a return on equity of 1.80%. The firm had revenue of $450.10 million for the quarter, compared to analysts’ expectations of $452.64 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, analysts expect that Manitowoc Company Inc will post 0.56 earnings per share for the current year.

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Manitowoc Profile

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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Institutional Ownership by Quarter for Manitowoc (NYSE:MTW)

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