Caxton Associates LP Sells 6,272 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Caxton Associates LP cut its stake in The Manitowoc Company, Inc. (NYSE:MTW) by 32.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,023 shares of the industrial products company’s stock after selling 6,272 shares during the period. Caxton Associates LP’s holdings in Manitowoc were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTW. JPMorgan Chase & Co. grew its position in shares of Manitowoc by 6.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company’s stock worth $1,192,000 after buying an additional 7,191 shares during the period. Strong Tower Advisory Services raised its stake in Manitowoc by 94.4% during the 4th quarter. Strong Tower Advisory Services now owns 39,041 shares of the industrial products company’s stock worth $356,000 after buying an additional 18,957 shares during the period. SG Americas Securities LLC grew its stake in Manitowoc by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 1,944 shares during the period. R Squared Ltd acquired a new stake in Manitowoc in the fourth quarter valued at approximately $66,000. Finally, Hodges Capital Management Inc. raised its position in shares of Manitowoc by 93.9% during the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock worth $4,242,000 after purchasing an additional 225,090 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.

Insider Activity at Manitowoc

In related news, CEO Aaron H. Ravenscroft bought 3,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the purchase, the chief executive officer now directly owns 690,142 shares in the company, valued at $5,990,432.56. The trade was a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.52% of the stock is owned by company insiders.

Manitowoc Stock Performance

Shares of MTW stock opened at $9.81 on Friday. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.46. The company has a market cap of $347.54 million, a P/E ratio of 6.33 and a beta of 1.92. The firm has a 50-day moving average of $8.58 and a 200-day moving average of $9.44. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The business had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $479.39 million. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities research analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on MTW shares. UBS Group lowered their price objective on shares of Manitowoc from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Robert W. Baird dropped their price target on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.46.

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.