The Manitowoc Company, Inc. (NYSE:MTW) CFO Acquires $10,632.00 in Stock

The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan purchased 1,200 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $8.86 per share, with a total value of $10,632.00. Following the transaction, the chief financial officer now directly owns 109,486 shares of the company’s stock, valued at approximately $970,045.96. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Manitowoc Trading Up 10.1 %

Shares of Manitowoc stock opened at $9.50 on Wednesday. The business has a fifty day simple moving average of $9.62 and a 200-day simple moving average of $10.85. The firm has a market cap of $333.64 million, a price-to-earnings ratio of -35.18 and a beta of 1.84. The Manitowoc Company, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.65. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $516.49 million. During the same quarter last year, the business posted $0.22 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts forecast that The Manitowoc Company, Inc. will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTW. Isthmus Partners LLC boosted its stake in shares of Manitowoc by 1.8% during the 2nd quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 3,767 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Manitowoc during the second quarter valued at $26,000. US Bancorp DE boosted its position 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 valued at $27,000 after purchasing an additional 1,327 shares during the period. CWM LLC increased its stake in Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 1,482 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Manitowoc during the 3rd quarter worth about $51,000. Institutional investors own 78.66% of the company’s stock.

Wall Street Analysts Forecast Growth

MTW has been the subject of several recent analyst reports. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird lowered their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group lowered their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, Barclays reduced their price objective on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.47.

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.