Quantitative Investment Management LLC increased its stake in shares of Manitowoc Co. (NYSE:MTW) by 9.0% during the third quarter, Holdings Channel reports. The firm owned 173,700 shares of the company’s stock after buying an additional 14,400 shares during the period. Quantitative Investment Management LLC owned approximately 0.13% of Manitowoc worth $832,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Manitowoc by 151.9% in the second quarter. BlackRock Fund Advisors now owns 3,051,774 shares of the company’s stock valued at $16,632,000 after buying an additional 1,840,495 shares during the period. AQR Capital Management LLC bought a new position in shares of Manitowoc during the second quarter valued at approximately $8,791,000. Rutabaga Capital Management LLC MA increased its position in shares of Manitowoc by 75.5% in the second quarter. Rutabaga Capital Management LLC MA now owns 3,159,671 shares of the company’s stock valued at $17,220,000 after buying an additional 1,359,671 shares during the period. First Trust Advisors LP bought a new position in shares of Manitowoc during the second quarter valued at approximately $7,005,000. Finally, Credit Suisse AG increased its position in shares of Manitowoc by 403.3% in the second quarter. Credit Suisse AG now owns 1,170,103 shares of the company’s stock valued at $6,377,000 after buying an additional 937,607 shares during the period. Institutional investors own 78.86% of the company’s stock.
Manitowoc Co. (NYSE:MTW) opened at 5.90 on Friday. The company’s market capitalization is $818.75 million. Manitowoc Co. has a 12 month low of $3.65 and a 12 month high of $17.56. The company has a 50-day moving average price of $4.61 and a 200 day moving average price of $5.10.
Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, November 1st. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. The firm earned $349.80 million during the quarter, compared to the consensus estimate of $346.47 million. Manitowoc had a negative net margin of 14.06% and a positive return on equity of 2.88%. The company’s revenue was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities research analysts forecast that Manitowoc Co. will post ($0.44) EPS for the current fiscal year.
MTW has been the topic of several analyst reports. Deutsche Bank AG initiated coverage on Manitowoc in a report on Tuesday, September 6th. They set a “hold” rating and a $5.25 price target on the stock. Seaport Global Securities downgraded Manitowoc from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Thursday, October 20th. Barclays PLC lowered their price target on Manitowoc from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 12th. Credit Suisse Group AG reiterated a “hold” rating and set a $5.50 price target on shares of Manitowoc in a report on Tuesday, August 9th. Finally, Jefferies Group reiterated a “buy” rating and set a $7.00 price target on shares of Manitowoc in a report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.31.
The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.