Ameritas Advisory Services LLC acquired a new position in The Manitowoc Company, Inc. (NYSE:MTW – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,594 shares of the industrial products company’s stock, valued at approximately $301,000. Ameritas Advisory Services LLC owned approximately 0.05% of Manitowoc as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its position in shares of Manitowoc by 104.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 1,681 shares in the last quarter. UBS Group AG raised its holdings in Manitowoc by 165.6% in the third quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 3,696 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Manitowoc by 43.6% in the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,146 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Manitowoc in the 1st quarter worth approximately $60,000. Finally, Wells Fargo & Company MN raised its stake in shares of Manitowoc by 30.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,641 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 2,008 shares in the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on MTW shares. Barclays raised their target price on shares of Manitowoc from $9.00 to $15.00 in a research note on Thursday, May 4th. The Goldman Sachs Group downgraded Manitowoc from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $13.00 to $15.00 in a research note on Monday, April 3rd. Wells Fargo & Company raised Manitowoc from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $14.00 to $17.00 in a report on Monday, May 1st. StockNews.com downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Sunday, May 21st. Finally, Citigroup lifted their target price on shares of Manitowoc from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.29.
Manitowoc Trading Down 2.4 %
Manitowoc (NYSE:MTW – Get Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.05 by $0.41. The business had revenue of $508.30 million for the quarter, compared to the consensus estimate of $479.97 million. Manitowoc had a negative net margin of 5.29% and a positive return on equity of 8.98%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. On average, equities analysts predict that The Manitowoc Company, Inc. will post 1.12 EPS for the current fiscal year.
Manitowoc Company Profile
The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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.
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