Manitowoc Company Inc (MTW) Shares Sold by Appleton Group LLC
Appleton Group LLC lessened its holdings in Manitowoc Company Inc (NYSE:MTW) by 75.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,391 shares of the industrial products company’s stock after selling 22,177 shares during the quarter. Appleton Group LLC’s holdings in Manitowoc were worth $291,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Cipher Capital LP acquired a new stake in shares of Manitowoc during the 3rd quarter valued at $109,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Manitowoc by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 16,065 shares in the last quarter. Invictus RG acquired a new stake in shares of Manitowoc during the 3rd quarter valued at $124,000. Advisor Group Inc. boosted its holdings in shares of Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 572 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 3,733 shares in the last quarter.
In other Manitowoc news, Director Charles David Myers acquired 3,854 shares of the stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average cost of $39.12 per share, with a total value of $150,768.48. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.82% of the company’s stock.
Manitowoc (NYSE:MTW) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.44. The firm had revenue of $399.40 million for the quarter, compared to the consensus estimate of $385.01 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.12) EPS. equities research analysts forecast that Manitowoc Company Inc will post -0.18 EPS for the current fiscal year.
Several research firms recently weighed in on MTW. Stifel Nicolaus raised their price objective on Manitowoc from $36.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Deutsche Bank reissued a “hold” rating and set a $32.28 price objective (up previously from $31.40) on shares of Manitowoc in a report on Monday, October 9th. Barclays initiated coverage on Manitowoc in a report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 price objective on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Manitowoc in a report on Friday, November 24th. Finally, Citigroup lifted their target price on Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $39.64.
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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