The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan Purchases 1,000 Shares

The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan bought 1,000 shares of the stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $12.21 per share, for a total transaction of $12,210.00. Following the completion of the purchase, the chief financial officer now owns 108,286 shares in the company, valued at $1,322,172.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Manitowoc Trading Up 1.2 %

MTW opened at $12.21 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 0.59. The company’s 50 day simple moving average is $13.03 and its two-hundred day simple moving average is $14.41. The Manitowoc Company, Inc. has a 1-year low of $11.16 and a 1-year high of $19.81. The firm has a market capitalization of $433.94 million, a price-to-earnings ratio of 16.28 and a beta of 2.05.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. Manitowoc had a return on equity of 7.33% and a net margin of 1.23%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Analysts expect that The Manitowoc Company, Inc. will post 1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

MTW has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Wells Fargo & Company decreased their price target on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. Barclays decreased their price target on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, April 22nd. Finally, StockNews.com lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.83.

Institutional Trading of Manitowoc

Hedge funds and other institutional investors have recently made changes to their positions in the company. AJOVista LLC acquired a new stake in Manitowoc in the 4th quarter valued at approximately $69,000. Allspring Global Investments Holdings LLC increased its holdings in Manitowoc by 19.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 823 shares during the last quarter. Inlet Private Wealth LLC acquired a new stake in Manitowoc in the 1st quarter valued at approximately $141,000. Arizona State Retirement System acquired a new stake in Manitowoc in the 3rd quarter valued at approximately $151,000. Finally, Spire Wealth Management acquired a new stake in Manitowoc in the 3rd quarter valued at approximately $174,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

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.