Boston Partners Acquires New Position in The Manitowoc Company, Inc. $MTW

Key Points

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Boston Partners bought a new stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 28,841 shares of the industrial products company's stock, valued at approximately $248,000. Boston Partners owned 0.08% of Manitowoc at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Manitowoc by 779.8% during the first quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company's stock worth $1,400,000 after acquiring an additional 144,498 shares during the period. Nuveen LLC acquired a new position in Manitowoc during the first quarter worth $851,000. Invesco Ltd. raised its position in Manitowoc by 0.8% during the first quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company's stock worth $10,159,000 after acquiring an additional 9,599 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Manitowoc by 126.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,573 shares of the industrial products company's stock worth $477,000 after acquiring an additional 31,047 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Manitowoc by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company's stock worth $4,002,000 after acquiring an additional 64,983 shares during the period. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Price Performance

Shares of Manitowoc stock traded up $0.7850 during trading hours on Friday, reaching $10.1250. 538,181 shares of the company's stock were exchanged, compared to its average volume of 372,586. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.61. The company has a market capitalization of $359.03 million, a P/E ratio of 8.10 and a beta of 2.07. The business has a fifty day moving average of $11.83 and a two-hundred day moving average of $10.40. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67.

Manitowoc (NYSE:MTW - Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.12). Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The business had revenue of $539.50 million for the quarter, compared to analysts' expectations of $580.18 million. During the same period in the previous year, the company earned $0.25 EPS. Manitowoc's quarterly revenue was down 4.0% compared to the same quarter last year. As a group, research analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTW. UBS Group upped their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird reduced their price objective on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Wall Street Zen upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Barclays upped their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $11.00.

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.