Geode Capital Management LLC Purchases 2,224 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Geode Capital Management LLC grew its position in The Manitowoc Company, Inc. (NYSE:MTW) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 794,335 shares of the industrial products company’s stock after purchasing an additional 2,224 shares during the quarter. Geode Capital Management LLC’s holdings in Manitowoc were worth $7,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Front Street Capital Management Inc. increased its position in Manitowoc by 8.4% during the 2nd 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 in the last quarter. State Street Corp grew its stake in shares of Manitowoc by 8.1% during the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after buying an additional 64,101 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Manitowoc by 1.3% during the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock worth $7,447,000 after buying an additional 9,758 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Manitowoc by 31.1% in 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 acquiring an additional 140,042 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Manitowoc by 33.6% during the 2nd quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock valued at $3,028,000 after acquiring an additional 66,013 shares in the last quarter. Institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Performance

Shares of MTW opened at $8.90 on Friday. The stock has a 50 day moving average of $9.90 and a 200 day moving average of $10.17. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The Manitowoc Company, Inc. has a 12 month low of $8.50 and a 12 month high of $17.65. The company has a market capitalization of $312.63 million, a price-to-earnings ratio of -32.96 and a beta of 1.83.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The company had revenue of $524.80 million for the quarter, compared to analysts’ expectations of $516.49 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Robert W. Baird cut their price target on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently 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.