The Manitowoc Company, Inc. (NYSE:MTW) Director Buys $23,751.76 in Stock

The Manitowoc Company, Inc. (NYSE:MTWGet Rating) Director John Charles Pfeifer bought 1,762 shares of Manitowoc stock in a transaction dated Monday, May 2nd. The stock was acquired at an average price of $13.48 per share, for a total transaction of $23,751.76. Following the completion of the acquisition, the director now owns 47,595 shares in the company, valued at $641,580.60. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of MTW stock traded up $0.63 during trading hours on Thursday, reaching $13.55. 269,775 shares of the stock were exchanged, compared to its average volume of 285,542. The Manitowoc Company, Inc. has a 12-month low of $10.87 and a 12-month high of $27.57. The company has a current ratio of 1.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $13.25 and its 200-day moving average price is $16.45. The firm has a market capitalization of $478.57 million, a price-to-earnings ratio of 26.92 and a beta of 2.11.

Manitowoc (NYSE:MTWGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $440.08 million. Manitowoc had a net margin of 0.94% and a return on equity of 5.14%. Manitowoc’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. On average, sell-side analysts expect that The Manitowoc Company, Inc. will post 0.87 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in MTW. Morgan Stanley boosted its position in Manitowoc by 113.4% in the 2nd quarter. Morgan Stanley now owns 175,698 shares of the industrial products company’s stock valued at $4,305,000 after buying an additional 93,351 shares during the period. Barclays PLC boosted its position in Manitowoc by 22.9% in the 3rd quarter. Barclays PLC now owns 45,876 shares of the industrial products company’s stock valued at $982,000 after buying an additional 8,535 shares during the period. Goldman Sachs Group Inc. boosted its position in Manitowoc by 19.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 123,700 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 19,975 shares during the period. Geode Capital Management LLC boosted its position in Manitowoc by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 638,107 shares of the industrial products company’s stock valued at $13,668,000 after buying an additional 20,419 shares during the period. Finally, Credit Suisse AG boosted its position in Manitowoc by 15.7% in the 3rd quarter. Credit Suisse AG now owns 23,699 shares of the industrial products company’s stock valued at $507,000 after buying an additional 3,207 shares during the period. 76.36% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on MTW. Wells Fargo & Company began coverage on shares of Manitowoc in a report on Friday, March 11th. They issued an “underweight” rating and a $17.00 target price on the stock. Robert W. Baird reduced their target price on shares of Manitowoc from $16.00 to $15.00 in a report on Wednesday, May 4th. The Goldman Sachs Group reduced their target price on shares of Manitowoc from $20.00 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, April 14th. JPMorgan Chase & Co. reduced their target price on shares of Manitowoc from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, March 28th. Finally, StockNews.com began coverage on shares of Manitowoc in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, Manitowoc presently has a consensus rating of “Hold” and a consensus target price of $16.14.

Manitowoc Company Profile (Get Rating)

The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.

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