The Manitowoc Company, Inc. $MTW Stake Lifted by Groupe la Francaise

Groupe la Francaise lifted its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,659 shares of the industrial products company’s stock after acquiring an additional 48,660 shares during the quarter. Groupe la Francaise’s holdings in Manitowoc were worth $3,219,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MTW. Charles Schwab Investment Management Inc. raised its stake in shares of Manitowoc by 16.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock worth $4,002,000 after buying an additional 64,983 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Manitowoc during the first quarter worth about $380,000. Boston Partners bought a new stake in Manitowoc in the first quarter worth about $248,000. Russell Investments Group Ltd. raised its position in Manitowoc by 779.8% in the first quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company’s stock worth $1,400,000 after acquiring an additional 144,498 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Manitowoc by 126.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,573 shares of the industrial products company’s stock valued at $477,000 after acquiring an additional 31,047 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MTW shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manitowoc in a research note on Monday. Robert W. Baird decreased their price target 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. Wells Fargo & Company started coverage on Manitowoc in a research report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price objective for the company. Finally, Wall Street Zen raised Manitowoc from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $10.25.

Manitowoc Stock Up 4.7%

MTW stock opened at $11.85 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66. The firm has a market capitalization of $420.14 million, a P/E ratio of 7.45 and a beta of 1.92. 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 simple moving average is $10.78 and its 200-day simple moving average is $11.05.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Tuesday, June 7th. The industrial products company reported ($0.06) EPS for the quarter. Manitowoc had a return on equity of 0.87% and a net margin of 2.63%.The firm had revenue of $354.30 million during the quarter. As a group, equities research analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

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.