The Manitowoc Company, Inc. (NYSE:MTW) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC grew its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 168,500 shares of the industrial products company’s stock after purchasing an additional 8,576 shares during the quarter. Empowered Funds LLC owned 0.48% of Manitowoc worth $1,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Isthmus Partners LLC increased its holdings in Manitowoc by 1.8% in the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after buying an additional 3,767 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Manitowoc during the second quarter worth about $26,000. US Bancorp DE boosted its stake in shares of Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,327 shares in the last quarter. CWM LLC increased its holdings in shares of Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,482 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Manitowoc in the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Price Performance

Shares of NYSE:MTW opened at $10.61 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The stock’s 50 day moving average price is $9.88 and its 200 day moving average price is $10.69. The Manitowoc Company, Inc. has a 12 month low of $8.50 and a 12 month high of $17.65. The stock has a market cap of $372.55 million, a price-to-earnings ratio of -39.28 and a beta of 1.84.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The company had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. During the same quarter last year, the business earned $0.22 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MTW shares. JPMorgan Chase & Co. boosted their price target on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group dropped their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research note on Friday, August 9th. Robert W. Baird lowered their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Barclays reduced their target price on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.47.

Manitowoc Profile

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.