SeaCrest Wealth Management LLC purchased a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,130 shares of the industrial products company’s stock, valued at approximately $43,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Manitowoc during the second quarter valued at $32,000. US Bancorp DE increased its position in Manitowoc by 43.6% during the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,146 shares during the last quarter. Amalgamated Bank purchased a new stake in Manitowoc during the first quarter valued at $62,000. KBC Group NV increased its position in Manitowoc by 24.3% during the first quarter. KBC Group NV now owns 6,247 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 1,223 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Manitowoc during the second quarter valued at $125,000. 75.77% of the stock is owned by institutional investors.
Manitowoc Stock Performance
NYSE:MTW opened at $9.90 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 0.56 and a debt-to-equity ratio of 0.64. The Manitowoc Company, Inc. has a 12-month low of $7.53 and a 12-month high of $21.09. The stock has a 50-day moving average price of $8.79 and a 200 day moving average price of $10.29. The stock has a market capitalization of $348.33 million, a P/E ratio of 20.63 and a beta of 2.09.
Analyst Upgrades and Downgrades
A number of research firms recently commented on MTW. Credit Suisse Group reduced their price objective on Manitowoc from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 9th. Citigroup upped their price objective on Manitowoc to $12.00 in a research report on Monday, August 15th. The Goldman Sachs Group reduced their price objective on Manitowoc from $13.00 to $11.50 and set a “neutral” rating for the company in a research report on Wednesday, November 9th. Wells Fargo & Company reduced their price target on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Monday, October 24th. Finally, StockNews.com began coverage on Manitowoc in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Manitowoc presently has an average rating of “Hold” and a consensus price target of $11.50.
The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.
- Get a free copy of the StockNews.com research report on Manitowoc (MTW)
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