D. E. Shaw & Co. Inc. Buys 144,390 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

D. E. Shaw & Co. Inc. lifted its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 35.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,416 shares of the industrial products company's stock after acquiring an additional 144,390 shares during the period. D. E. Shaw & Co. Inc. owned 1.57% of Manitowoc worth $5,025,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new stake in shares of Manitowoc during the fourth quarter valued at approximately $637,000. Brevan Howard Capital Management LP purchased a new stake in Manitowoc in the 4th quarter worth $115,000. Balyasny Asset Management L.P. bought a new position in shares of Manitowoc during the 4th quarter valued at about $156,000. Bank of America Corp DE boosted its holdings in shares of Manitowoc by 15.0% during the 4th quarter. Bank of America Corp DE now owns 75,982 shares of the industrial products company's stock valued at $694,000 after purchasing an additional 9,906 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in Manitowoc during the 4th quarter valued at approximately $228,000. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Trading Down 0.4%

Shares of Manitowoc stock traded down $0.04 during trading on Thursday, hitting $10.64. The stock had a trading volume of 15,581 shares, compared to its average volume of 292,421. The stock has a market cap of $377.11 million, a PE ratio of 6.86 and a beta of 1.92. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.46. The firm's fifty day simple moving average is $8.87 and its 200-day simple moving average is $9.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. As a group, sell-side analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

MTW has been the subject of a number of recent research reports. UBS Group raised their target price on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Robert W. Baird lowered their price target on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.86.

Insider Buying and Selling

In other Manitowoc news, CEO Aaron H. Ravenscroft bought 3,000 shares of Manitowoc stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the purchase, the chief executive officer now directly owns 690,142 shares in the company, valued at approximately $5,990,432.56. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by corporate insiders.

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.