1 day Ago By ABMN Staff
Bank of New York Mellon Corp raised its stake in shares of The Manitowoc Company, Inc. ( NYSE:MTW – Free Report ) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC.
The fund owned 173,983 shares of the industrial products company’s stock after purchasing an additional 9,753 shares during the period. Bank of New York Mellon Corp owned approximately 0.49% of Manitowoc worth $2,006,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Manitowoc by 97.0% in the 2nd quarter.
CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after buying an additional 1,482 shares during the last quarter. Inlet Private Wealth LLC purchased a new stake in shares of Manitowoc during the 1st quarter valued at $141,000. Allspring Global Investments Holdings LLC raised its stake in shares of Manitowoc by 183.
1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 7,441 shares during the period. Strong Tower Advisory Services purchased a new position in shares of Manitowoc in the 2nd quarter worth about $173,000.
Finally, Dynamic Technology Lab Private Ltd bought a new position in Manitowoc during the fourth quarter valued at about $253,000. 78.66% of the stock is owned by institutional investors.
Analysts Set New Price Targets A number of equities research analysts recently commented on MTW shares. JPMorgan Chase & Co. lowered their price target on shares of Manitowoc from $14.
00 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. StockNews.
com cut Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. UBS Group decreased their price objective on Manitowoc from $18.00 to $14.
50 and set a “neutral” rating for the company in a report on Wednesday, June 12th. The Goldman Sachs Group dropped their price objective on shares of Manitowoc from $13.00 to $11.
30 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, Barclays reduced their target price on shares of Manitowoc from $12.00 to $9.
00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Manitowoc has a consensus rating of “Hold” and a consensus price target of $13.
22. Manitowoc Stock Performance Shares of MTW opened at $10.05 on Wednesday.
The Manitowoc Company, Inc. has a one year low of $8.85 and a one year high of $17.
65. The company has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $11.
80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.
89 and a quick ratio of 0.58. The firm has a market capitalization of $357.
01 million, a PE ratio of 13.39 and a beta of 1.85.
Manitowoc ( NYSE:MTW – Get Free Report ) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.
49 by ($0.24). The business had revenue of $562.
10 million for the quarter, compared to analysts’ expectations of $598.00 million. Manitowoc had a net margin of 0.
40% and a return on equity of 4.28%. The company’s revenue was down 6.
8% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share.
On average, analysts anticipate that The Manitowoc Company, Inc. will post 0.64 EPS for the current fiscal year.
Manitowoc Company Profile ( 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. Further Reading Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.
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