ExodusPoint Capital Management LP Invests $497,000 in The Manitowoc Company, Inc. (NYSE:MTW)

ExodusPoint Capital Management LP purchased a new position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 54,404 shares of the industrial products company's stock, valued at approximately $497,000. ExodusPoint Capital Management LP owned approximately 0.15% of Manitowoc at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp increased its stake in Manitowoc by 8.1% in the third quarter. State Street Corp now owns 852,093 shares of the industrial products company's stock valued at $8,197,000 after acquiring an additional 64,101 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Manitowoc by 93.9% during the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company's stock valued at $4,242,000 after buying an additional 225,090 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Manitowoc by 103.1% in the fourth quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company's stock worth $726,000 after buying an additional 40,333 shares in the last quarter. Geode Capital Management LLC grew its position in Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company's stock valued at $7,643,000 after acquiring an additional 2,224 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Manitowoc by 6.2% during the third quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company's stock worth $1,192,000 after acquiring an additional 7,191 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Stock Performance

Shares of Manitowoc stock traded up $0.10 during trading on Friday, hitting $7.58. 314,149 shares of the company's stock traded hands, compared to its average volume of 285,092. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.46. The business has a 50-day simple moving average of $9.36 and a 200-day simple moving average of $9.59. 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 stock has a market capitalization of $268.47 million, a P/E ratio of 4.89 and a beta of 1.79.

Manitowoc (NYSE:MTW - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. As a group, analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

Separately, UBS Group decreased their price target on Manitowoc from $13.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Manitowoc presently has an average rating of "Hold" and an average target price of $10.66.

Manitowoc 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.