Russell Investments Group Ltd. Boosts Stock Holdings in The Manitowoc Company, Inc. $MTW

Russell Investments Group Ltd. boosted its position in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 779.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,029 shares of the industrial products company’s stock after buying an additional 144,498 shares during the period. Russell Investments Group Ltd. owned 0.46% of Manitowoc worth $1,400,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in Manitowoc during the 4th quarter worth approximately $721,000. Two Sigma Investments LP increased its stake in Manitowoc by 34.8% during the 4th quarter. Two Sigma Investments LP now owns 194,786 shares of the industrial products company’s stock worth $1,778,000 after buying an additional 50,276 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Manitowoc by 88.4% during the 4th quarter. Jane Street Group LLC now owns 153,792 shares of the industrial products company’s stock worth $1,404,000 after purchasing an additional 72,145 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Manitowoc by 126.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,573 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 31,047 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Manitowoc by 272.9% during the 1st quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 175,879 shares during the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Manitowoc from a “sell” rating to a “hold” rating in a report on Sunday. UBS Group boosted their target price on Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Robert W. Baird lowered their target price on Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Finally, Barclays boosted their target price on Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $11.00.

Manitowoc Trading Up 1.2%

MTW opened at $10.10 on Thursday. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.61. The stock has a market capitalization of $357.97 million, a PE ratio of 8.08 and a beta of 2.07. The business’s 50 day moving average price is $11.76 and its 200 day moving average price is $10.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.12). Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $580.18 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

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.