Credit Suisse AG bought a new position in shares of Manitowoc Food Service, Inc. (NYSE:WBT) during the first quarter, Holdings Channel reports. The firm bought 100,788 shares of the industrial products company’s stock, valued at approximately $1,979,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in Manitowoc Food Service during the first quarter worth about $115,000. Nisa Investment Advisors LLC acquired a new stake in Manitowoc Food Service during the first quarter worth about $120,000. BlueCrest Capital Management Ltd acquired a new stake in Manitowoc Food Service during the first quarter worth about $203,000. Teacher Retirement System of Texas acquired a new stake in Manitowoc Food Service during the first quarter worth about $203,000. Finally, Jacobus Wealth Management Inc. acquired a new stake in Manitowoc Food Service during the first quarter worth about $207,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Food Service, Inc. (NYSE WBT) traded down 0.05% during mid-day trading on Thursday, reaching $19.50. The company’s stock had a trading volume of 133,456 shares. The company has a 50 day moving average of $19.23 and a 200-day moving average of $19.36. The stock has a market cap of $2.71 billion, a PE ratio of 40.62 and a beta of 2.28. Manitowoc Food Service, Inc. has a 52-week low of $14.93 and a 52-week high of $21.13.

Manitowoc Food Service (NYSE:WBT) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a negative return on equity of 121.38% and a net margin of 4.55%. The firm had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.28 million. The business’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts forecast that Manitowoc Food Service, Inc. will post $0.72 earnings per share for the current year.

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A number of research firms have issued reports on WBT. Zacks Investment Research raised Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, May 10th. Barclays PLC raised their target price on Manitowoc Food Service from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.20.

In other news, SVP Joel H. Horn sold 1,561 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total value of $30,018.03. Following the transaction, the senior vice president now owns 3,515 shares of the company’s stock, valued at $67,593.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

About Manitowoc Food Service

Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.

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Institutional Ownership by Quarter for Manitowoc Food Service (NYSE:WBT)

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