Manitowoc (NYSE:MTW) Hits New 52-Week High – Here’s What Happened
by Jessica Moore · The Cerbat GemThe Manitowoc Company, Inc. (NYSE:MTW – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.19 and last traded at $14.25, with a volume of 114134 shares traded. The stock had previously closed at $13.80.
Analyst Ratings Changes
Several research analysts have weighed in on MTW shares. Wall Street Zen raised shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a report on Monday, December 22nd. Wells Fargo & Company assumed coverage on Manitowoc in a report on Thursday, November 13th. They issued an “underweight” rating and a $9.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 22nd. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $10.25.
Get Our Latest Stock Report on Manitowoc
Manitowoc Stock Up 2.0%
The company has a market cap of $499.06 million, a price-to-earnings ratio of 8.85 and a beta of 1.88. The stock has a 50-day simple moving average of $11.96 and a 200-day simple moving average of $11.37. The company has a current ratio of 2.14, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.
Manitowoc (NYSE:MTW – Get Free Report) last issued its quarterly earnings data on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share for the quarter. The company had revenue of $354.30 million for the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. As a group, analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.
Institutional Trading of Manitowoc
Several hedge funds and other institutional investors have recently modified their holdings of MTW. Vanguard Group Inc. raised its position in Manitowoc by 0.3% during the third quarter. Vanguard Group Inc. now owns 2,139,051 shares of the industrial products company’s stock valued at $21,412,000 after buying an additional 6,043 shares during the period. First Eagle Investment Management LLC grew its stake in Manitowoc by 2.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 834,869 shares of the industrial products company’s stock valued at $8,357,000 after acquiring an additional 16,046 shares in the last quarter. Geode Capital Management LLC grew its stake in Manitowoc by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 826,240 shares of the industrial products company’s stock valued at $9,934,000 after acquiring an additional 3,569 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Manitowoc by 1.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,798 shares of the industrial products company’s stock valued at $3,982,000 after purchasing an additional 4,743 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Manitowoc by 35.7% in the second quarter. AQR Capital Management LLC now owns 394,281 shares of the industrial products company’s stock worth $4,739,000 after purchasing an additional 103,829 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.
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.