The Manitowoc Company, Inc. $MTW Stock Position Lifted by Groupe la Francaise

Groupe la Francaise lifted its position in The Manitowoc Company, Inc. (NYSE:MTW) by 22.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,659 shares of the industrial products company’s stock after acquiring an additional 48,660 shares during the quarter. Groupe la Francaise owned 0.74% of Manitowoc worth $3,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC lifted its stake in Manitowoc by 669.9% during the second quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 6,377 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Manitowoc during the second quarter worth $105,000. Caxton Associates LLP bought a new position in shares of Manitowoc in the 1st quarter worth about $112,000. Bangor Savings Bank acquired a new position in shares of Manitowoc in the 2nd quarter valued at about $120,000. Finally, MetLife Investment Management LLC grew its position in shares of Manitowoc by 13.8% during the 1st quarter. MetLife Investment Management LLC now owns 19,564 shares of the industrial products company’s stock valued at $168,000 after buying an additional 2,368 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTW. Wall Street Zen raised shares of Manitowoc from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Robert W. Baird dropped their price target on Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a research report on Monday. Finally, Wells Fargo & Company began coverage on Manitowoc in a research report on Thursday, November 13th. They issued an “underweight” rating and a $9.00 target price on the stock. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $10.25.

Manitowoc Stock Performance

Shares of NYSE MTW opened at $11.85 on Thursday. The Manitowoc Company, Inc. has a 12-month low of $7.06 and a 12-month high of $13.61. The company has a market cap of $420.14 million, a PE ratio of 7.45 and a beta of 1.92. The stock has a 50 day simple moving average of $10.78 and a 200-day simple moving average of $11.05. The company has a current ratio of 2.14, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last announced its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share for the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. The business had revenue of $354.30 million for the quarter. On average, equities research analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS 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.