Manitowoc Company Inc (MTW) Position Trimmed by US Bancorp DE
US Bancorp DE cut its holdings in shares of Manitowoc Company Inc (NYSE:MTW) by 85.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,515 shares of the industrial products company’s stock after selling 20,901 shares during the quarter. US Bancorp DE’s holdings in Manitowoc were worth $139,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cipher Capital LP purchased a new position in Manitowoc during the third quarter worth about $109,000. Invictus RG purchased a new position in Manitowoc during the third quarter worth about $124,000. Engineers Gate Manager LP purchased a new position in shares of Manitowoc in the 4th quarter worth about $765,000. Fox Run Management L.L.C. purchased a new position in shares of Manitowoc in the 4th quarter worth about $799,000. Finally, Comerica Bank purchased a new position in shares of Manitowoc in the 4th quarter worth about $987,000.
A number of equities analysts have recently commented on MTW shares. JPMorgan Chase & Co. downgraded Manitowoc from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $30.00 to $29.00 in a report on Monday, February 12th. SunTrust Banks raised their price objective on Manitowoc to $37.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Robert W. Baird downgraded Manitowoc from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $27.95 to $33.00 in a report on Friday. Stifel Nicolaus raised their price objective on Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Jefferies Group restated a “buy” rating on shares of Manitowoc in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $38.85.
Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The company had revenue of $481.50 million for the quarter, compared to analysts’ expectations of $423.27 million. Manitowoc had a net margin of 0.59% and a negative return on equity of 1.54%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.24) earnings per share. research analysts anticipate that Manitowoc Company Inc will post 0.57 earnings per share for the current year.
In related news, SVP Thomas G. Musial sold 1,376 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.07, for a total transaction of $44,128.32. Following the sale, the senior vice president now directly owns 48,467 shares in the company, valued at approximately $1,554,336.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Thomas G. Musial sold 4,476 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $33.84, for a total value of $151,467.84. Following the sale, the senior vice president now owns 54,319 shares in the company, valued at $1,838,154.96. The disclosure for this sale can be found here. Company insiders own 2.82% of the company’s stock.
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Manitowoc Company Profile
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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