Manitowoc Company Inc (NYSE:MTW) issued its earnings results on Monday. The industrial products company reported ($0.17) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). Manitowoc Company had a negative return on equity of 9.94% and a negative net margin of 23.70%. The firm had revenue of $305.80 million for the quarter, compared to analyst estimates of $336.85 million. During the same period last year, the company earned ($0.04) earnings per share. The firm’s revenue for the quarter was down 28.5% on a year-over-year basis.
Shares of Manitowoc Company (NYSE:MTW) traded up 4.26% during midday trading on Friday, reaching $5.63. The company’s stock had a trading volume of 1,909,984 shares. The company’s market cap is $791.23 million. Manitowoc Company has a 12 month low of $3.65 and a 12 month high of $7.57. The stock has a 50-day moving average of $5.82 and a 200 day moving average of $5.88.
In other Manitowoc Company news, VP Louis F. Raymond sold 5,200 shares of Manitowoc Company stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $6.29, for a total transaction of $32,708.00. Following the completion of the transaction, the vice president now owns 27,879 shares in the company, valued at approximately $175,358.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lawrence Joseph Weyers sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $6.30, for a total value of $51,660.00. Following the completion of the transaction, the insider now owns 118,459 shares in the company, valued at approximately $746,291.70. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its position in shares of Manitowoc Company by 0.7% in the third quarter. Sei Investments Co. now owns 31,686 shares of the industrial products company’s stock worth $152,000 after buying an additional 215 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Manitowoc Company by 1.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,085 shares of the industrial products company’s stock worth $234,000 after buying an additional 406 shares during the period. Bank of America Corp DE boosted its stake in Manitowoc Company by 1.6% in the first quarter. Bank of America Corp DE now owns 90,840 shares of the industrial products company’s stock worth $518,000 after buying an additional 1,391 shares during the period. Nationwide Fund Advisors boosted its stake in Manitowoc Company by 1.7% in the first quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock worth $595,000 after buying an additional 1,783 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Manitowoc Company by 8.7% in the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,117 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.
Several equities research analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating on shares of Manitowoc Company in a research report on Tuesday, April 11th. Royal Bank of Canada reissued a “hold” rating and set a $5.50 price target on shares of Manitowoc Company in a report on Friday, March 24th. Deutsche Bank AG reissued a “hold” rating and set a $6.25 price target (up from $6.20) on shares of Manitowoc Company in a report on Thursday, April 6th. Zacks Investment Research raised Manitowoc Company from a “strong sell” rating to a “hold” rating in a report on Monday, January 23rd. Finally, OTR Global raised Manitowoc Company to a “positive” rating in a research note on Friday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $5.56.
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Manitowoc Company Company Profile
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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