Acadian Asset Management LLC Buys 140,246 Shares of The Manitowoc Company, Inc. $MTW

Acadian Asset Management LLC boosted its stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 127.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,087 shares of the industrial products company's stock after acquiring an additional 140,246 shares during the period. Acadian Asset Management LLC owned 0.71% of Manitowoc worth $2,146,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Manitowoc during the 4th quarter valued at $35,000. GAMMA Investing LLC boosted its holdings 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 valued at $104,000 after buying an additional 11,782 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Manitowoc during the 1st quarter valued at $112,000. MetLife Investment Management LLC boosted its holdings 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 valued at $168,000 after buying an additional 2,368 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Manitowoc during the 4th quarter valued at $181,000. Institutional investors own 78.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. 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 report on Monday, August 11th. Barclays lifted their price target on Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Finally, Wall Street Zen raised Manitowoc from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $11.00.

Manitowoc Price Performance

Shares of NYSE:MTW opened at $10.04 on Wednesday. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.61. The business has a 50-day simple moving average of $11.16 and a two-hundred day simple moving average of $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 firm has a market cap of $356.02 million, a price-to-earnings ratio of 8.03 and a beta of 2.17.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings results 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). Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. 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 revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share 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.

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