Aaron H. Ravenscroft Acquires 1,000 Shares of The Manitowoc Company, Inc. (NYSE:MTW) Stock

The Manitowoc Company, Inc. (NYSE:MTW) CEO Aaron H. Ravenscroft purchased 1,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $12.56 per share, with a total value of $12,560.00. Following the transaction, the chief executive officer now owns 493,587 shares of the company’s stock, valued at $6,199,452.72. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Manitowoc Stock Up 1.7 %

Shares of Manitowoc stock opened at $12.83 on Wednesday. The company has a fifty day moving average price of $13.08 and a 200 day moving average price of $14.44. The company has a current ratio of 1.77, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63. The Manitowoc Company, Inc. has a twelve month low of $11.16 and a twelve month high of $19.81. The stock has a market cap of $455.98 million, a price-to-earnings ratio of 17.11 and a beta of 2.05.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $496.93 million. Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Equities research analysts forecast that The Manitowoc Company, Inc. will post 1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. AJOVista LLC acquired a new stake in shares of Manitowoc during the fourth quarter worth approximately $69,000. Allspring Global Investments Holdings LLC grew its stake in Manitowoc by 19.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 823 shares in the last quarter. Inlet Private Wealth LLC bought a new stake in Manitowoc in the first quarter valued at about $141,000. Arizona State Retirement System acquired a new stake in Manitowoc during the third quarter valued at approximately $151,000. Finally, Spire Wealth Management bought a new position in Manitowoc during the third quarter worth $174,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MTW shares. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. lowered their price target on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Barclays lowered their price objective on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. Finally, Wells Fargo & Company cut their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.83.

Manitowoc Company Profile

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.