Nuveen LLC Purchases New Position in The Manitowoc Company, Inc. $MTW

Nuveen LLC acquired a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 99,015 shares of the industrial products company's stock, valued at approximately $851,000. Nuveen LLC owned 0.28% of Manitowoc as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Manitowoc during the fourth quarter valued at $35,000. GAMMA Investing LLC boosted its stake in Manitowoc by 3,309.6% during the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock valued at $104,000 after buying an additional 11,782 shares during the period. Brevan Howard Capital Management LP bought a new stake in Manitowoc during the fourth quarter valued at $115,000. Balyasny Asset Management L.P. bought a new stake in Manitowoc during the fourth quarter valued at $156,000. Finally, Squarepoint Ops LLC bought a new stake in Manitowoc during the fourth quarter valued at $181,000. Institutional investors own 78.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Wall Street Zen downgraded Manitowoc from a "hold" rating to a "sell" rating in a research report on Monday, September 1st. Robert W. Baird lowered their price target on Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Finally, UBS Group raised their price target on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $11.00.

Manitowoc Trading Up 0.9%

Shares of MTW traded up $0.10 during trading hours on Friday, hitting $10.16. The company had a trading volume of 269,074 shares, compared to its average volume of 363,989. The firm has a market cap of $360.10 million, a P/E ratio of 8.12 and a beta of 2.18. The stock's 50 day moving average price is $11.51 and its 200 day moving average price is $10.35. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. The Manitowoc Company, Inc. has a 52-week low of $7.06 and a 52-week high of $13.61.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $0.08 EPS for the quarter, missing the consensus estimate 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 negative return on equity of 0.33% and a net margin of 2.11%.The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, research analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

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.