Engineers Gate Manager LP Has $433,000 Position in The Manitowoc Company, Inc. (NYSE:MTW)

Engineers Gate Manager LP raised its position in The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) by 140.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,843 shares of the industrial products company’s stock after buying an additional 32,644 shares during the quarter. Engineers Gate Manager LP owned 0.16% of Manitowoc worth $433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTW. JPMorgan Chase & Co. grew its holdings in Manitowoc by 2.5% in the 1st quarter. JPMorgan Chase & Co. now owns 526,525 shares of the industrial products company’s stock valued at $7,941,000 after buying an additional 12,948 shares in the last quarter. American Century Companies Inc. acquired a new position in Manitowoc in the 1st quarter valued at $339,000. US Bancorp DE grew its holdings in Manitowoc by 43.6% in the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,146 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Manitowoc by 59.8% in the 1st quarter. MetLife Investment Management LLC now owns 15,934 shares of the industrial products company’s stock valued at $240,000 after buying an additional 5,963 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Manitowoc by 2.7% in the 1st quarter. BlackRock Inc. now owns 3,635,795 shares of the industrial products company’s stock valued at $54,827,000 after buying an additional 95,428 shares in the last quarter. 74.27% of the stock is owned by institutional investors and hedge funds.

Manitowoc Price Performance

Shares of MTW stock opened at $17.75 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.82 and a debt-to-equity ratio of 0.71. The Manitowoc Company, Inc. has a twelve month low of $7.53 and a twelve month high of $20.20. The company has a market cap of $622.76 million, a P/E ratio of -5.04 and a beta of 2.06. The business has a fifty day simple moving average of $14.22 and a 200 day simple moving average of $10.93.

Manitowoc (NYSE:MTW – Get Rating) last posted its earnings results on Tuesday, February 21st. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.23 by $0.51. The firm had revenue of $621.60 million during the quarter, compared to the consensus estimate of $562.36 million. Manitowoc had a positive return on equity of 6.09% and a negative net margin of 6.08%. During the same period last year, the company earned $0.27 earnings per share. On average, sell-side analysts forecast that The Manitowoc Company, Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com upgraded Manitowoc from a “hold” rating to a “buy” rating in a research report on Wednesday, March 1st. The Goldman Sachs Group upped their target price on Manitowoc from $11.50 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 22nd. Wells Fargo & Company upped their target price on Manitowoc from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, February 22nd. Citigroup upped their target price on Manitowoc from $11.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, March 6th. Finally, Robert W. Baird upped their target price on Manitowoc from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Manitowoc presently has an average rating of “Hold” and an average target price of $13.88.

Manitowoc Company Profile

(Get Rating)

The Manitowoc Co, Inc provides engineered lifting solutions. The firm designs, manufactures, markets and supports product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, boom trucks and industrial cranes under the Grove, Potain, Manitowoc, National Crane, Shuttlelift and Manitowoc Crane Care brand names.