Balyasny Asset Management L.P. Buys New Position in The Manitowoc Company, Inc. (NYSE:MTW)

Balyasny Asset Management L.P. purchased a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,140 shares of the industrial products company’s stock, valued at approximately $156,000.

A number of other large investors have also recently made changes to their positions in MTW. First Eagle Investment Management LLC grew its stake in shares of Manitowoc by 207.9% in the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock worth $5,379,000 after acquiring an additional 397,837 shares during the period. Front Street Capital Management Inc. increased its position in shares of 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 purchasing an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Manitowoc by 61.9% in the fourth quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock worth $5,558,000 after buying an additional 232,744 shares during the last quarter. Hodges Capital Management Inc. grew its position in Manitowoc by 93.9% during the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after buying an additional 225,090 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Manitowoc by 84.5% during the fourth quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company’s stock valued at $2,088,000 after buying an additional 104,709 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the acquisition, the chief executive officer now owns 690,142 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.52% of the stock is currently owned by corporate insiders.

Manitowoc Price Performance

Shares of MTW opened at $11.77 on Monday. The stock has a market capitalization of $416.99 million, a PE ratio of 7.59 and a beta of 1.92. The company has a 50 day moving average price of $8.76 and a 200-day moving average price of $9.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.46.

Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The company had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $479.39 million. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on MTW shares. Robert W. Baird cut their price target on Manitowoc from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. UBS Group raised their target price on shares of Manitowoc from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Friday. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.86.

Manitowoc Company Profile

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.