Westpac Banking Corp bought a new position in shares of Manitowoc Company, Inc. (The) (NYSE:MTW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,663 shares of the industrial products company’s stock, valued at approximately $335,000.

Several other large investors have also modified their holdings of MTW. Teachers Advisors LLC raised its holdings in shares of Manitowoc Company, Inc. (The) by 37.9% during the fourth quarter. Teachers Advisors LLC now owns 360,325 shares of the industrial products company’s stock worth $2,155,000 after purchasing an additional 99,052 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Manitowoc Company, Inc. (The) by 1.7% during the first quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 1,783 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Manitowoc Company, Inc. (The) by 61.5% during the first quarter. Russell Investments Group Ltd. now owns 482,109 shares of the industrial products company’s stock worth $2,749,000 after purchasing an additional 183,534 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Manitowoc Company, Inc. (The) by 96.4% during the first quarter. Canada Pension Plan Investment Board now owns 196,800 shares of the industrial products company’s stock worth $1,122,000 after purchasing an additional 96,600 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Manitowoc Company, Inc. (The) by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after purchasing an additional 45,461 shares during the period. 80.98% of the stock is currently owned by institutional investors.

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MTW has been the topic of a number of research reports. BidaskClub cut shares of Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and set a $6.50 target price on shares of Manitowoc Company, Inc. (The) in a report on Thursday, June 22nd. Deutsche Bank AG reissued a “hold” rating and set a $6.25 target price on shares of Manitowoc Company, Inc. (The) in a report on Tuesday, July 4th. ValuEngine raised shares of Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Monday, September 11th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $7.35.

Shares of Manitowoc Company, Inc. (NYSE MTW) opened at 7.79 on Friday. The company has a 50 day moving average of $7.65 and a 200-day moving average of $6.31. The firm’s market cap is $1.10 billion. Manitowoc Company, Inc. has a 12-month low of $3.65 and a 12-month high of $8.43.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $394.60 million during the quarter, compared to analysts’ expectations of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. Equities research analysts forecast that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

About Manitowoc Company, Inc. (The)

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Institutional Ownership by Quarter for Manitowoc Company, Inc. (The) (NYSE:MTW)

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