Northern Trust Corp lifted its holdings in shares of Manitowoc Company Inc (NYSE:MTW) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 424,934 shares of the industrial products company’s stock after acquiring an additional 38,372 shares during the quarter. Northern Trust Corp owned 1.20% of Manitowoc worth $10,989,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of Manitowoc by 19.4% during the 1st quarter. LPL Financial LLC now owns 16,892 shares of the industrial products company’s stock valued at $481,000 after buying an additional 2,739 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Manitowoc by 7.7% during the 1st quarter. Royal Bank of Canada now owns 33,024 shares of the industrial products company’s stock valued at $940,000 after buying an additional 2,367 shares in the last quarter. Columbia Partners L L C Investment Management boosted its holdings in shares of Manitowoc by 100.0% during the 2nd quarter. Columbia Partners L L C Investment Management now owns 31,524 shares of the industrial products company’s stock valued at $815,000 after buying an additional 15,762 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Manitowoc during the 2nd quarter valued at $291,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Manitowoc by 68.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,201 shares of the industrial products company’s stock valued at $600,000 after buying an additional 9,410 shares in the last quarter. 79.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Manitowoc stock opened at $19.12 on Friday. The stock has a market capitalization of $716.70 million, a P/E ratio of 61.03 and a beta of 1.62. Manitowoc Company Inc has a 1 year low of $16.74 and a 1 year high of $44.03. The company has a current ratio of 1.75, a quick ratio of 0.73 and a debt-to-equity ratio of 0.39.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.12. The company had revenue of $450.10 million for the quarter, compared to analysts’ expectations of $452.64 million. Manitowoc had a net margin of 2.56% and a return on equity of 1.80%. Manitowoc’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, analysts expect that Manitowoc Company Inc will post 0.58 earnings per share for the current fiscal year.
A number of analysts have recently commented on MTW shares. Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating in a report on Monday, July 16th. Stifel Nicolaus restated a “buy” rating and set a $33.00 target price on shares of Manitowoc in a report on Sunday, August 12th. Robert W. Baird upgraded shares of Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Thursday, September 20th. Macquarie upped their price target on shares of Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Finally, Citigroup dropped their price target on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $30.50.
Manitowoc Company Profile
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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