Manitowoc Company Inc (MTW) SVP Sells $151,467.84 in Stock

Manitowoc Company Inc (NYSE:MTW) SVP Thomas G. Musial sold 4,476 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total value of $151,467.84. Following the sale, the senior vice president now owns 54,319 shares in the company, valued at $1,838,154.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Manitowoc Company Inc (MTW) traded up $0.50 during mid-day trading on Wednesday, reaching $34.45. The company had a trading volume of 426,049 shares, compared to its average volume of 728,360. Manitowoc Company Inc has a 1-year low of $21.00 and a 1-year high of $44.03. The company has a market capitalization of $1,203.28, a PE ratio of 165.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.59%. The company had revenue of $481.50 million during the quarter, compared to the consensus estimate of $423.27 million. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The business’s revenue was up 27.3% on a year-over-year basis. sell-side analysts predict that Manitowoc Company Inc will post 0.54 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of MTW. Dimensional Fund Advisors LP lifted its stake in Manitowoc by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,647,423 shares of the industrial products company’s stock valued at $51,970,000 after buying an additional 1,499,384 shares during the period. Hennessy Advisors Inc. acquired a new position in Manitowoc in the fourth quarter valued at approximately $29,631,000. Vanguard Group Inc. lifted its stake in Manitowoc by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock valued at $63,834,000 after buying an additional 471,356 shares during the period. Van Den Berg Management I Inc. lifted its stake in Manitowoc by 18.4% in the third quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock valued at $16,109,000 after buying an additional 278,220 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Manitowoc by 6,356.7% in the third quarter. JPMorgan Chase & Co. now owns 241,932 shares of the industrial products company’s stock valued at $2,172,000 after buying an additional 238,185 shares during the period.

Several research firms have recently weighed in on MTW. Deutsche Bank reduced their price target on Manitowoc from $44.00 to $36.00 and set a “hold” rating on the stock in a report on Monday. Credit Suisse Group boosted their price target on Manitowoc from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday. Stifel Nicolaus reduced their price target on Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. cut Manitowoc from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $30.00 to $29.00 in a report on Monday. Finally, SunTrust Banks upped their target price on Manitowoc to $37.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Manitowoc currently has a consensus rating of “Hold” and an average target price of $39.92.

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About Manitowoc

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

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