8,732 Shares in The Manitowoc Company, Inc. $MTW Bought by AlphaQuest LLC

AlphaQuest LLC purchased a new position in shares of The Manitowoc Company, Inc. (NYSE:MTW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,732 shares of the industrial products company’s stock, valued at approximately $105,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Manitowoc by 0.8% during the 1st quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company’s stock valued at $10,159,000 after acquiring an additional 9,599 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Manitowoc by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock valued at $4,002,000 after acquiring an additional 64,983 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Manitowoc by 4.2% during the first quarter. Bridgeway Capital Management LLC now owns 320,140 shares of the industrial products company’s stock valued at $2,750,000 after acquiring an additional 13,001 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Manitowoc by 19.0% during the first quarter. AQR Capital Management LLC now owns 290,452 shares of the industrial products company’s stock worth $2,495,000 after purchasing an additional 46,324 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Manitowoc by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 273,121 shares of the industrial products company’s stock valued at $2,346,000 after purchasing an additional 56,336 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Price Performance

Shares of NYSE MTW opened at $10.05 on Wednesday. The stock has a market cap of $356.19 million, a price-to-earnings ratio of 8.04 and a beta of 2.16. The Manitowoc Company, Inc. has a 52 week low of $7.06 and a 52 week high of $13.61. The company’s 50-day moving average price is $10.37 and its 200 day moving average price is $10.78. The company has a current ratio of 2.07, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Tuesday, June 7th. The industrial products company reported ($0.06) EPS for the quarter. The business had revenue of $354.30 million during the quarter. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. As a group, research analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a research note on Wednesday, October 8th. Robert W. Baird decreased their target price on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Finally, Barclays boosted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $10.67.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.