69,758 Shares in The Manitowoc Company, Inc. (NYSE:MTW) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,758 shares of the industrial products company's stock, valued at approximately $637,000. Cubist Systematic Strategies LLC owned about 0.20% of Manitowoc at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MTW. First Eagle Investment Management LLC boosted its stake in Manitowoc by 207.9% in the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after purchasing an additional 397,837 shares during the period. Front Street Capital Management Inc. lifted its position in shares of Manitowoc by 7.8% during the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company's stock worth $30,764,000 after buying an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of Manitowoc by 61.9% during the 4th quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company's stock worth $5,558,000 after buying an additional 232,744 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in Manitowoc by 93.9% in the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company's stock worth $4,242,000 after purchasing an additional 225,090 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Manitowoc by 84.5% in the 4th quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company's stock worth $2,088,000 after purchasing an additional 104,709 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTW has been the subject of several recent research reports. UBS Group decreased their price target on Manitowoc from $13.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Robert W. Baird decreased their target price on Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.46.

Insider Activity

In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the acquisition, the chief executive officer now owns 690,142 shares of the company's stock, valued at $5,990,432.56. The trade was a 0.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.52% of the company's stock.

Manitowoc Stock Up 2.0%

Shares of NYSE:MTW opened at $11.54 on Friday. The business's 50 day simple moving average is $8.71 and its two-hundred day simple moving average is $9.48. The firm has a market cap of $409.01 million, a P/E ratio of 7.45 and a beta of 1.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The Manitowoc Company, Inc. has a 52-week low of $7.06 and a 52-week high of $13.46.

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

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.

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