Manitowoc SVP Sells $789,960 in Stock (MTW)
Manitowoc (NYSE:MTW) SVP Maurice D. Jones sold 26,332 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $30.00, for a total transaction of $789,960.00. Following the transaction, the senior vice president now directly owns 66,847 shares in the company, valued at approximately $2,005,410. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Manitowoc (NYSE:MTW) traded down 0.93% on Tuesday, hitting $29.72. 879,789 shares of the company’s stock traded hands. Manitowoc has a 52-week low of $16.18 and a 52-week high of $33.46. The stock’s 50-day moving average is $28. and its 200-day moving average is $27.28. The company has a market cap of $4.017 billion and a price-to-earnings ratio of 33.11.
Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, May 1st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.03. The company had revenue of $850.00 million for the quarter, compared to the consensus estimate of $913.66 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts predict that Manitowoc will post $1.64 earnings per share for the current fiscal year.
MTW has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Manitowoc from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $30.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Manitowoc in a research note on Tuesday, May 20th. They now have a $36.00 price target on the stock. Finally, analysts at Jefferies Group downgraded shares of Manitowoc from a “hold” rating to an “underperform” rating in a research note on Monday, March 24th. They now have a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.08.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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