Jane Street Group LLC Acquires 72,145 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Jane Street Group LLC raised its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 88.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,792 shares of the industrial products company’s stock after buying an additional 72,145 shares during the quarter. Jane Street Group LLC owned about 0.44% of Manitowoc worth $1,404,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Front Street Capital Management Inc. grew its position in shares of Manitowoc by 7.8% in the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company’s stock worth $30,764,000 after buying an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of Manitowoc by 61.9% during the fourth quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock valued at $5,558,000 after purchasing an additional 232,744 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Manitowoc by 207.9% during the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock valued at $5,379,000 after purchasing an additional 397,837 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Manitowoc by 10.6% during the fourth quarter. Voya Investment Management LLC now owns 533,738 shares of the industrial products company’s stock valued at $4,873,000 after purchasing an additional 51,217 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its position in shares of 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 purchasing an additional 225,090 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the purchase, the chief executive officer now directly owns 690,142 shares of the company’s stock, valued at $5,990,432.56. This trade represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.52% of the company’s stock.

Manitowoc Trading Down 1.5%

Manitowoc stock opened at $11.58 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The business’s fifty day simple moving average is $8.80 and its two-hundred day simple moving average is $9.51. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.46. The company has a market capitalization of $410.43 million, a price-to-earnings ratio of 7.47 and a beta of 1.92.

Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $479.39 million. During the same period last year, the firm posted $0.14 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Manitowoc from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday. Robert W. Baird dropped their price target on Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.86.

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.