38,385 Shares in The Manitowoc Company, Inc. $MTW Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP purchased 38,385 shares of The Manitowoc Company, Inc., valued at approximately $330,000, representing 0.11% ownership of the company.
• The Manitowoc Company recently reported earnings of only $0.08 per share, which missed analyst expectations, and experienced a 4.0% year-over-year revenue decline.
• Institutional investors and hedge funds hold a significant share of 78.66% of Manitowoc's stock, indicating strong institutional interest in the company.

Trexquant Investment LP bought a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 38,385 shares of the industrial products company's stock, valued at approximately $330,000. Trexquant Investment LP owned approximately 0.11% of Manitowoc at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP lifted its position in Manitowoc by 272.9% during the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company's stock valued at $2,064,000 after purchasing an additional 175,879 shares during the period. Russell Investments Group Ltd. increased its stake in shares of 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 purchasing an additional 144,498 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Manitowoc by 35.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company's stock worth $5,025,000 after purchasing an additional 144,390 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Manitowoc during the first quarter worth about $851,000. Finally, Millennium Management LLC purchased a new stake in shares of Manitowoc during the fourth quarter worth about $721,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Up 0.5%

Shares of NYSE:MTW traded up $0.05 during trading hours on Monday, reaching $10.26. The stock had a trading volume of 441,620 shares, compared to its average volume of 289,614. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.61. The firm's 50 day moving average is $11.22 and its 200-day moving average is $10.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07. The stock has a market capitalization of $363.82 million, a price-to-earnings ratio of 8.21 and a beta of 2.18.

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

Analyst Ratings Changes

A number of analysts have recently commented on MTW shares. Barclays boosted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Robert W. Baird decreased their price objective on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a report on Tuesday, September 9th. 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, the stock currently has an average rating of "Reduce" and a consensus target price of $11.00.

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.