The Manitowoc Company, Inc. $MTW Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 15.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,639 shares of the industrial products company’s stock after purchasing an additional 4,444 shares during the period. Hsbc Holdings PLC owned about 0.09% of Manitowoc worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Manitowoc by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock worth $4,002,000 after purchasing an additional 64,983 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Manitowoc during the fourth quarter worth about $721,000. Two Sigma Investments LP increased its stake in shares of Manitowoc by 34.8% during the fourth quarter. Two Sigma Investments LP now owns 194,786 shares of the industrial products company’s stock worth $1,778,000 after purchasing an additional 50,276 shares in the last quarter. Boston Partners purchased a new stake in shares of Manitowoc during the first quarter worth about $248,000. Finally, Jane Street Group LLC increased its stake in shares of Manitowoc by 88.4% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Performance

MTW opened at $10.07 on Friday. The firm has a market capitalization of $356.90 million, a PE ratio of 8.05 and a beta of 2.17. The Manitowoc Company, Inc. has a twelve month low of $7.06 and a twelve month high of $13.61. The firm’s 50-day moving average price is $11.56 and its 200 day moving average price is $10.38. The company has a current ratio of 2.07, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.12). The business had revenue of $539.50 million for 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 revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, sell-side analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MTW shares. Wall Street Zen cut shares of Manitowoc from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group boosted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Robert W. Baird lowered their price target on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Finally, Barclays boosted their price target on shares of Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a research report on Monday, July 21st. Three equities 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.com, the company currently has an average rating of “Reduce” and a consensus target price of $11.00.

Manitowoc 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.