Trexquant Investment LP Acquires Shares of 38,385 The Manitowoc Company, Inc. $MTW

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 purchased a new stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,385 shares of the industrial products company's stock, valued at approximately $330,000. Trexquant Investment LP owned approximately 0.11% of Manitowoc as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of MTW. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Manitowoc during the 4th quarter worth approximately $35,000. GAMMA Investing LLC raised its stake in shares of Manitowoc by 3,309.6% during the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock worth $104,000 after acquiring an additional 11,782 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Manitowoc during the 4th quarter worth approximately $115,000. Balyasny Asset Management L.P. bought a new position in shares of Manitowoc during the 4th quarter worth approximately $156,000. Finally, MetLife Investment Management LLC raised its stake in shares of Manitowoc by 13.8% during the 1st quarter. MetLife Investment Management LLC now owns 19,564 shares of the industrial products company's stock worth $168,000 after acquiring an additional 2,368 shares in the last quarter. Institutional investors own 78.66% of the company's stock.

Manitowoc Stock Performance

Shares of MTW traded down $0.03 during trading hours on Friday, hitting $10.22. The stock had a trading volume of 378,970 shares, compared to its average volume of 299,473. 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 firm has a 50-day moving average price of $11.27 and a 200 day moving average price of $10.33. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.61. The firm has a market capitalization of $362.22 million, a price-to-earnings ratio of 8.17 and a beta of 2.17.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on MTW shares. Robert W. Baird dropped their target price on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Wall Street Zen raised shares of Manitowoc from a "sell" rating to a "hold" rating in a research report on Tuesday. 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 report on Monday, July 21st. Finally, UBS Group boosted their target price 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. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price 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.