Bailard Inc. Takes $288,000 Position in The Manitowoc Company, Inc. $MTW

Bailard Inc. bought a new position in shares of The Manitowoc Company, Inc. (NYSE:MTW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,000 shares of the industrial products company’s stock, valued at approximately $288,000. Bailard Inc. owned about 0.07% of Manitowoc as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCW Group Inc. raised its holdings in Manitowoc by 2.9% in the 1st quarter. TCW Group Inc. now owns 58,949 shares of the industrial products company’s stock valued at $506,000 after buying an additional 1,671 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Manitowoc by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 78,512 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 1,872 shares during the last quarter. MetLife Investment Management LLC raised its position in Manitowoc by 13.8% in the first quarter. MetLife Investment Management LLC now owns 19,564 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 2,368 shares during the period. Goldstein Advisors LLC boosted its position in shares of Manitowoc by 18.4% during the second quarter. Goldstein Advisors LLC now owns 19,300 shares of the industrial products company’s stock worth $232,000 after buying an additional 3,000 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Manitowoc by 8.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 44,145 shares of the industrial products company’s stock worth $569,000 after acquiring an additional 3,354 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTW has been the subject of several recent research reports. Wells Fargo & Company began coverage on shares of Manitowoc in a research report on Thursday. They issued an “underweight” rating and a $9.00 price target for the company. Barclays increased their price target on Manitowoc from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Monday, July 21st. Wall Street Zen raised Manitowoc from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird reduced their target price on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Finally, Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $10.25.

Manitowoc Stock Performance

Shares of MTW stock opened at $11.09 on Friday. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07. The firm has a market cap of $393.23 million, a price-to-earnings ratio of 8.87 and a beta of 2.15. The stock’s 50-day moving average is $10.54 and its two-hundred day moving average is $10.94.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $354.30 million for the quarter. Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%. Analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

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.