Manitowoc (NYSE:MTW) Issues Earnings Results, Misses Expectations By $0.01 EPS

Manitowoc (NYSE:MTW) released its quarterly earnings data on Monday. The industrial products company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01), FiscalAI reports. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%.

Manitowoc Stock Performance

Shares of NYSE:MTW traded down $0.17 during midday trading on Monday, reaching $14.86. 378,555 shares of the company traded hands, compared to its average volume of 239,194. The firm has a market capitalization of $527.08 million, a price-to-earnings ratio of 9.35 and a beta of 1.88. Manitowoc has a 12 month low of $7.06 and a 12 month high of $15.20. The firm’s fifty day moving average price is $12.99 and its two-hundred day moving average price is $11.49. The company has a quick ratio of 0.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.70.

Institutional Trading of Manitowoc

Institutional investors have recently modified their holdings of the company. Intech Investment Management LLC raised its holdings in Manitowoc by 20.9% in the third quarter. Intech Investment Management LLC now owns 13,752 shares of the industrial products company’s stock worth $138,000 after buying an additional 2,376 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Manitowoc by 131.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after buying an additional 2,575 shares during the period. PDT Partners LLC increased its stake in shares of Manitowoc by 6.3% during the second quarter. PDT Partners LLC now owns 55,284 shares of the industrial products company’s stock valued at $665,000 after buying an additional 3,277 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Manitowoc during the third quarter valued at about $47,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Manitowoc by 1.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,798 shares of the industrial products company’s stock worth $3,982,000 after buying an additional 4,743 shares during the period. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 target price (up from $9.00) on shares of Manitowoc in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a research report on Monday, December 22nd. Finally, Wall Street Zen upgraded shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Manitowoc presently has an average rating of “Reduce” and an average price target of $10.50.

Manitowoc Company Profile

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.