Manitowoc CEO Glen Tellock Sells 314,713 Shares (MTW)
Manitowoc (NYSE:MTW) CEO Glen Tellock sold 314,713 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $23.08, for a total transaction of $7,263,576.04. Following the transaction, the chief executive officer now directly owns 424,903 shares of the company’s stock, valued at approximately $9,806,761. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Manitowoc (NYSE:MTW) traded up 4.58% during mid-day trading on Wednesday, hitting $23.99. The stock had a trading volume of 6,282,606 shares. Manitowoc has a 52 week low of $15.90 and a 52 week high of $24.38. The stock has a 50-day moving average of $21.65 and a 200-day moving average of $20.17. The company has a market cap of $3.206 billion and a price-to-earnings ratio of 19.86.
Manitowoc (NYSE:MTW) last announced its earnings results on Friday, October 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Manitowoc will post $1.26 earnings per share for the current fiscal year.
A number of research firms have recently commented on MTW. Analysts at Morgan Stanley upgraded shares of Manitowoc from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday. They now have a $30.00 price target on the stock, up previously from $23.00. Separately, analysts at Jefferies Group initiated coverage on shares of Manitowoc in a research note to investors on Tuesday. They set a “hold” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Manitowoc from $24.00 to $30.00 in a research note to investors on Tuesday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.36.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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