Manitowoc (NYSE:MTW) Hits New 52-Week High After Strong Earnings

The Manitowoc Company, Inc. (NYSE:MTW)’s share price hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $19.15 and last traded at $18.6170, with a volume of 127790 shares trading hands. The stock had previously closed at $14.21.

The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.35. The company had revenue of $594.90 million during the quarter, compared to the consensus estimate of $564.00 million. Manitowoc had a net margin of 0.33% and a return on equity of 1.85%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Manitowoc in a report on Wednesday, May 20th. Wall Street Zen downgraded Manitowoc from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Manitowoc has an average rating of “Strong Sell” and a consensus target price of $10.33.

Insider Buying and Selling at Manitowoc

In related news, Director Kenneth W. Krueger sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $11.80, for a total transaction of $106,200.00. Following the transaction, the director owned 162,672 shares in the company, valued at $1,919,529.60. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds have recently added to or reduced their stakes in the stock. Garner Asset Management Corp purchased a new position in shares of Manitowoc in the 4th quarter worth $36,000. Tower Research Capital LLC TRC increased its position in 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 acquiring an additional 2,575 shares during the last quarter. Quantbot Technologies LP bought a new position in Manitowoc in the third quarter valued at about $47,000. State of Wyoming purchased a new position in Manitowoc in the first quarter worth about $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Manitowoc in the second quarter worth about $84,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Price Performance

The firm has a 50-day simple moving average of $13.10 and a 200-day simple moving average of $13.09. The firm has a market capitalization of $684.55 million, a PE ratio of 94.09 and a beta of 1.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.10 and a quick ratio of 0.72.

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.