Two Sigma Investments LP Acquires 50,276 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Two Sigma Investments LP raised its stake in The Manitowoc Company, Inc. (NYSE:MTW) by 34.8% in the fourth quarter, Holdings Channel reports. The fund owned 194,786 shares of the industrial products company’s stock after purchasing an additional 50,276 shares during the quarter. Two Sigma Investments LP’s holdings in Manitowoc were worth $1,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. LPL Financial LLC lifted its stake in Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 1,030 shares during the last quarter. Northern Trust Corp grew its stake in shares of Manitowoc by 0.5% during the fourth quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company’s stock worth $2,779,000 after buying an additional 1,552 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after buying an additional 1,771 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Manitowoc by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 1,944 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Manitowoc during the 4th quarter valued at $35,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Price Performance

Shares of MTW opened at $10.36 on Tuesday. The business has a 50-day moving average of $9.03 and a 200-day moving average of $9.53. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.46. The company has a market capitalization of $367.01 million, a price-to-earnings ratio of 6.68 and a beta of 1.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The firm had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. During the same period in the prior year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at Manitowoc

In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the acquisition, the chief executive officer now owns 690,142 shares of the company’s stock, valued at approximately $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MTW shares. Robert W. Baird dropped their target price on Manitowoc from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. UBS Group lifted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.86.

About Manitowoc

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.