BlueCrest Capital Management Ltd Acquires Shares of 66,339 Manitowoc Company Inc (MTW)
BlueCrest Capital Management Ltd acquired a new stake in Manitowoc Company Inc (NYSE:MTW) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 66,339 shares of the industrial products company’s stock, valued at approximately $2,610,000.
Several other hedge funds also recently modified their holdings of the stock. University of Notre Dame DU Lac bought a new position in shares of Manitowoc in the 4th quarter valued at approximately $7,263,000. Allianz Asset Management GmbH bought a new position in shares of Manitowoc in the 4th quarter valued at approximately $227,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Manitowoc in the 4th quarter valued at approximately $9,247,000. Columbia Partners L L C Investment Management bought a new position in shares of Manitowoc in the 4th quarter valued at approximately $620,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Manitowoc in the 4th quarter valued at approximately $448,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on MTW shares. JPMorgan Chase & Co. downgraded Manitowoc from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $30.00 to $29.00 in a research note on Monday, February 12th. SunTrust Banks raised their price objective on Manitowoc to $37.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Robert W. Baird downgraded Manitowoc from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $27.95 to $33.00 in a research note on Friday, March 2nd. Zacks Investment Research raised Manitowoc from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, ValuEngine downgraded Manitowoc from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.85.
Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). The business had revenue of $481.50 million during the quarter, compared to the consensus estimate of $423.27 million. Manitowoc had a negative return on equity of 1.54% and a net margin of 0.59%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) earnings per share. equities analysts anticipate that Manitowoc Company Inc will post 0.51 earnings per share for the current year.
In other news, SVP Thomas G. Musial sold 3,327 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $27.92, for a total transaction of $92,889.84. Following the sale, the senior vice president now directly owns 50,965 shares in the company, valued at $1,422,942.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Thomas G. Musial sold 4,476 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $33.84, for a total value of $151,467.84. Following the sale, the senior vice president now owns 54,319 shares in the company, valued at $1,838,154.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,179 shares of company stock worth $288,486. Company insiders own 2.82% of the company’s stock.
Manitowoc Company Profile
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.
Want to see what other hedge funds are holding MTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manitowoc Company Inc (NYSE:MTW).
Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.