Charles Schwab Investment Management Inc. Increases Stake in The Manitowoc Company, Inc. $MTW

Charles Schwab Investment Management Inc. increased its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 16.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465,863 shares of the industrial products company’s stock after purchasing an additional 64,983 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.31% of Manitowoc worth $4,002,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its position in Manitowoc by 272.9% during the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company’s stock worth $2,064,000 after buying an additional 175,879 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Manitowoc by 35.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company’s stock valued at $5,025,000 after acquiring an additional 144,390 shares in the last quarter. Millennium Management LLC acquired a new position in Manitowoc in the fourth quarter valued at $721,000. Jane Street Group LLC increased its stake in Manitowoc by 88.4% in the fourth quarter. Jane Street Group LLC now owns 153,792 shares of the industrial products company’s stock valued at $1,404,000 after purchasing an additional 72,145 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Manitowoc in the fourth quarter valued at $637,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MTW shares. Barclays upped their price target on Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a research note on Monday, July 21st. UBS Group increased their price target on Manitowoc from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wall Street Zen raised Manitowoc from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. Finally, Robert W. Baird cut their price target on Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $11.00.

Manitowoc Stock Performance

Shares of Manitowoc stock opened at $10.10 on Friday. The stock has a market cap of $357.97 million, a PE ratio of 8.08 and a beta of 2.07. The business has a fifty day simple moving average of $11.73 and a 200-day simple moving average of $10.40. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.61.

Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, August 7th. The industrial products company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.12). The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $580.18 million. Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. On average, sell-side analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal 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.