The Manitowoc Company, Inc. (NYSE:MTW) Sees Significant Decline in Short Interest

The Manitowoc Company, Inc. (NYSE:MTW) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 564,800 shares, a decrease of 15.6% from the November 30th total of 669,500 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 305,000 shares, the short-interest ratio is presently 1.9 days.

Manitowoc Stock Down 2.0 %

MTW stock opened at $8.77 on Monday. Manitowoc has a one year low of $8.50 and a one year high of $17.65. The firm has a market cap of $308.06 million, a PE ratio of -32.48 and a beta of 1.83. The firm’s 50 day moving average price is $9.96 and its 200-day moving average price is $10.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS 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 business had revenue of $524.80 million during the quarter, compared to analysts’ expectations of $516.49 million. During the same quarter in the prior year, the firm earned $0.22 EPS. Manitowoc’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that Manitowoc will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

MTW has been the topic of a number of research reports. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. 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. Finally, Robert W. Baird dropped their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.47.

Institutional Trading of Manitowoc

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Manitowoc during the second quarter valued at about $26,000. US Bancorp DE lifted its holdings in shares of Manitowoc by 88.1% in the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 1,327 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Manitowoc by 63.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,828 shares during the period. nVerses Capital LLC acquired a new stake in Manitowoc in the 3rd quarter valued at approximately $51,000. Finally, William B. Walkup & Associates Inc. purchased a new stake in Manitowoc in the second quarter valued at approximately $66,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

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.