Brian P. Regan Acquires 2,500 Shares of The Manitowoc Company, Inc. (NYSE:MTW) Stock

The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan purchased 2,500 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $8.53 per share, with a total value of $21,325.00. Following the transaction, the chief financial officer now owns 154,441 shares in the company, valued at $1,317,381.73. This trade represents a 1.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Manitowoc Stock Up 2.3 %

Shares of Manitowoc stock opened at $10.05 on Friday. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.46. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The company has a market capitalization of $356.19 million, a P/E ratio of 6.48 and a beta of 1.92. The business has a 50-day moving average of $8.59 and a two-hundred day moving average of $9.44.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The company had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. During the same period in the previous year, the firm posted $0.14 EPS. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird dropped their target price on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group dropped their price objective on Manitowoc from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.46.

Institutional Trading of Manitowoc

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Manitowoc during the fourth quarter worth about $35,000. R Squared Ltd bought a new position in shares of Manitowoc during the 4th quarter worth approximately $66,000. Quantbot Technologies LP raised its holdings in shares of Manitowoc by 20.9% in the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,771 shares during the last quarter. LPL Financial LLC lifted its position in shares of Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Manitowoc by 3,309.6% during the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 11,782 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

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.