Tectonic Advisors LLC Buys New Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Tectonic Advisors LLC purchased a new position in The Manitowoc Company, Inc. (NYSE:MTW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,132 shares of the industrial products company’s stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTW. Victory Capital Management Inc. purchased a new position in shares of Manitowoc in the second quarter valued at about $8,813,000. Front Street Capital Management Inc. grew its stake in shares of Manitowoc by 8.4% in the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after purchasing an additional 217,389 shares during the last quarter. Bank of Montreal Can purchased a new position in Manitowoc during the 2nd quarter valued at about $2,385,000. TCW Group Inc. increased its holdings in Manitowoc by 65.4% during the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock valued at $4,683,000 after purchasing an additional 160,601 shares during the period. Finally, AQR Capital Management LLC raised its position in Manitowoc by 31.1% during the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock valued at $6,810,000 after purchasing an additional 140,042 shares during the last quarter. Institutional investors own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MTW shares. JPMorgan Chase & Co. lifted their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Barclays cut their price target on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group decreased their price objective on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th. Finally, StockNews.com cut shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.56.

Manitowoc Trading Up 1.0 %

NYSE MTW opened at $9.64 on Friday. The firm has a market capitalization of $338.56 million, a PE ratio of 43.82 and a beta of 1.84. The stock’s 50 day moving average is $9.67 and its 200 day moving average is $11.03. The Manitowoc Company, Inc. has a twelve month low of $8.85 and a twelve month high of $17.65. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.24). The firm had revenue of $562.10 million for the quarter, compared to analysts’ expectations of $598.00 million. Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Research analysts forecast that The Manitowoc Company, Inc. will post 0.62 earnings per share for the current fiscal year.

About Manitowoc

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.