Front Street Capital Management Inc. Purchases Shares of 3,207,113 The Manitowoc Company, Inc. $MTW

Front Street Capital Management Inc. acquired a new position in shares of The Manitowoc Company, Inc. (NYSE:MTW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,207,113 shares of the industrial products company’s stock, valued at approximately $44,547,000. Manitowoc accounts for approximately 5.1% of Front Street Capital Management Inc.’s holdings, making the stock its 5th biggest holding. Front Street Capital Management Inc. owned about 0.09% of Manitowoc at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in Manitowoc during the 2nd quarter valued at $1,717,000. Assenagon Asset Management S.A. boosted its stake in shares of Manitowoc by 100.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company’s stock worth $1,754,000 after buying an additional 63,215 shares during the last quarter. Royal Bank of Canada increased its position in shares of Manitowoc by 55.1% during the 1st quarter. Royal Bank of Canada now owns 84,508 shares of the industrial products company’s stock valued at $984,000 after purchasing an additional 30,019 shares during the last quarter. Empowered Funds LLC increased its holdings in Manitowoc by 8.6% during the first quarter. Empowered Funds LLC now owns 224,437 shares of the industrial products company’s stock worth $2,615,000 after buying an additional 17,694 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Manitowoc by 10.2% during the 1st quarter. Quantinno Capital Management LP now owns 54,639 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 5,058 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Stock Up 0.0%

Shares of MTW stock opened at $19.68 on Tuesday. The Manitowoc Company, Inc. has a one year low of $9.66 and a one year high of $21.34. The company’s fifty day moving average price is $14.92 and its 200-day moving average price is $13.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. The company has a market capitalization of $709.81 million, a price-to-earnings ratio of 35.79 and a beta of 1.72.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.35. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The business had revenue of $594.90 million for the quarter, compared to the consensus estimate of $564.00 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Sell-side analysts expect that The Manitowoc Company, Inc. will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

MTW has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Barclays reiterated an “underweight” rating and set a $16.00 price objective (up from $11.00) on shares of Manitowoc in a research report on Monday, August 10th. Finally, Wells Fargo & Company lifted their price target on Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $14.00.

About Manitowoc

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.