Jane Street Group LLC boosted its stake in Manitowoc Company Inc (NYSE:MTW) by 210.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,553 shares of the industrial products company’s stock after purchasing an additional 52,554 shares during the quarter. Jane Street Group LLC owned about 0.06% of Manitowoc worth $698,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cipher Capital LP acquired a new position in shares of Manitowoc during the third quarter valued at about $109,000. Invictus RG acquired a new position in shares of Manitowoc during the third quarter valued at about $124,000. Annex Advisory Services LLC grew its holdings in shares of Manitowoc by 22.3% during the second quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock valued at $104,000 after buying an additional 3,158 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Manitowoc by 646.0% during the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after buying an additional 16,065 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Manitowoc by 2.4% during the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 572 shares in the last quarter.
A number of research analysts recently weighed in on the stock. J P Morgan Chase & Co raised shares of Manitowoc from an “underweight” rating to a “neutral” rating and raised their price target for the company from $24.00 to $28.00 in a research report on Thursday, August 17th. Jefferies Group reissued a “buy” rating and set a $38.00 price target on shares of Manitowoc in a research report on Thursday, September 21st. Barclays assumed coverage on shares of Manitowoc in a research report on Tuesday. They set an “overweight” rating and a $45.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Manitowoc from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Deutsche Bank reissued a “hold” rating and set a $32.28 price target (up from $31.40) on shares of Manitowoc in a research report on Monday, October 9th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $37.89.
In other news, Director Charles David Myers acquired 3,854 shares of Manitowoc stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average price of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.82% of the stock is currently owned by insiders.
Manitowoc Company Inc (MTW) traded down $0.70 during midday trading on Friday, hitting $38.89. 393,600 shares of the stock traded hands, compared to its average volume of 421,105. Manitowoc Company Inc has a one year low of $21.00 and a one year high of $42.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76.
Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.44. The company had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. Manitowoc’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.12) earnings per share. research analysts predict that Manitowoc Company Inc will post -0.19 earnings per share for the current fiscal year.
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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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