The Manitowoc Company, Inc. (NYSE:MTW) Sees Significant Increase in Short Interest

The Manitowoc Company, Inc. (NYSE:MTWGet Free Report) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 864,200 shares, a growth of 27.6% from the May 15th total of 677,300 shares. Based on an average daily trading volume, of 261,400 shares, the short-interest ratio is presently 3.3 days. Approximately 2.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MTW. Robert W. Baird reduced their price objective on Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. UBS Group lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, Manitowoc presently has a consensus rating of “Hold” and a consensus price target of $10.86.

Check Out Our Latest Report on MTW

Insider Activity at Manitowoc

In related news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, with a total value of $26,040.00. Following the transaction, the chief executive officer now directly owns 690,142 shares in the company, valued at approximately $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Manitowoc

A number of large investors have recently bought and sold shares of MTW. First Eagle Investment Management LLC boosted its holdings in Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock valued at $5,379,000 after acquiring an additional 397,837 shares during the period. Front Street Capital Management Inc. boosted its holdings in Manitowoc by 7.8% during the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company’s stock valued at $30,764,000 after acquiring an additional 243,077 shares during the period. Kennedy Capital Management LLC boosted its holdings in Manitowoc by 61.9% during the 4th quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock valued at $5,558,000 after acquiring an additional 232,744 shares during the period. GSA Capital Partners LLP boosted its holdings in Manitowoc by 272.9% during the 1st quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company’s stock valued at $2,064,000 after acquiring an additional 175,879 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Manitowoc by 779.8% during the 1st quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company’s stock valued at $1,400,000 after acquiring an additional 144,498 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Price Performance

Shares of Manitowoc stock opened at $11.29 on Friday. The stock has a 50 day moving average price of $9.82 and a 200-day moving average price of $9.60. Manitowoc has a one year low of $7.06 and a one year high of $13.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.64 and a current ratio of 1.90. The stock has a market cap of $399.94 million, a price-to-earnings ratio of 9.03 and a beta of 2.02.

Manitowoc (NYSE:MTWGet Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The business had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $479.39 million. During the same quarter in the previous year, the firm earned $0.14 EPS. Manitowoc’s revenue was down 4.9% compared to the same quarter last year. Equities analysts expect that Manitowoc will post 0.5 EPS for the current year.

Manitowoc Company Profile

(Get Free Report)

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.

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