Southpoint Capital Advisors LP trimmed its position in shares of Manitowoc Company Inc (NYSE:MTW) by 84.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,100,000 shares of the industrial products company’s stock after selling 5,900,000 shares during the quarter. Manitowoc comprises about 2.1% of Southpoint Capital Advisors LP’s holdings, making the stock its 22nd biggest holding. Southpoint Capital Advisors LP owned 3.13% of Manitowoc worth $43,274,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Cipher Capital LP purchased a new stake in Manitowoc during the 3rd quarter valued at about $109,000. Invictus RG purchased a new stake in Manitowoc during the 3rd quarter valued at about $124,000. SeaCrest Wealth Management LLC purchased a new stake in Manitowoc during the 4th quarter valued at about $129,000. Ameriprise Financial Inc. grew its position in Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Manitowoc during the 3rd quarter valued at about $225,000. 79.26% of the stock is currently owned by institutional investors.
In other news, SVP Thomas G. Musial sold 3,327 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $27.92, for a total value of $92,889.84. Following the transaction, the senior vice president now owns 50,965 shares in the company, valued at approximately $1,422,942.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas G. Musial sold 1,376 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.07, for a total transaction of $44,128.32. Following the completion of the transaction, the senior vice president now owns 48,467 shares in the company, valued at approximately $1,554,336.69. The disclosure for this sale can be found here. Insiders sold a total of 9,179 shares of company stock worth $288,486 in the last quarter. Company insiders own 2.82% of the company’s stock.
Manitowoc Company Inc (MTW) opened at $29.97 on Monday. Manitowoc Company Inc has a one year low of $21.00 and a one year high of $44.03. The company has a quick ratio of 0.89, a current ratio of 1.76 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1,059.35, a P/E ratio of 142.71 and a beta of 1.57.
Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a negative return on equity of 1.54% and a net margin of 0.59%. The business had revenue of $481.50 million during the quarter, compared to the consensus estimate of $423.27 million. During the same quarter last year, the company earned ($0.24) EPS. Manitowoc’s revenue for the quarter was up 27.3% on a year-over-year basis. research analysts expect that Manitowoc Company Inc will post 0.51 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/12/manitowoc-company-inc-mtw-position-reduced-by-southpoint-capital-advisors-lp.html.
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.
Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.