Charles Schwab Investment Management Inc. Has $4 Million Stock Position in The Manitowoc Company, Inc. $MTW

Key Points

• Charles Schwab Investment Management Inc. increased its stake in The Manitowoc Company by 16.2% during the first quarter, now owning approximately 1.31% of the company with holdings valued at $4 million.
• Several institutional investors have significantly raised their holdings in Manitowoc, with GSA Capital Partners LLP increasing its position by an astonishing 272.9% during the same period.
• Manitowoc's earnings report revealed a miss on EPS estimates, with a reported $0.08 EPS compared to the consensus estimate of $0.20, and a year-over-year revenue decline of 4%.

Charles Schwab Investment Management Inc. raised its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 16.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,863 shares of the industrial products company's stock after purchasing an additional 64,983 shares during the period. Charles Schwab Investment Management Inc. owned 1.31% of Manitowoc worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP raised its stake in shares of Manitowoc by 272.9% during the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company's stock worth $2,064,000 after buying an additional 175,879 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Manitowoc by 35.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company's stock worth $5,025,000 after acquiring an additional 144,390 shares during the period. Millennium Management LLC bought a new stake in shares of Manitowoc during the 4th quarter valued at $721,000. Jane Street Group LLC lifted its stake in shares of Manitowoc by 88.4% in the 4th quarter. Jane Street Group LLC now owns 153,792 shares of the industrial products company's stock valued at $1,404,000 after purchasing an additional 72,145 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Manitowoc in the 4th quarter worth $637,000. Institutional investors own 78.66% of the company's stock.

Manitowoc Stock Down 1.0%

Shares of MTW stock traded down $0.10 during trading hours on Tuesday, hitting $9.81. 96,760 shares of the company were exchanged, compared to its average volume of 281,329. The business has a 50 day moving average of $11.67 and a two-hundred day moving average of $10.39. The company has a current ratio of 2.07, a quick ratio of 0.68 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. The company has a market capitalization of $347.69 million, a PE ratio of 7.83 and a beta of 2.18.

Manitowoc (NYSE:MTW - Get Free Report) last posted 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 the consensus estimate of $580.18 million. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The company's revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. Analysts anticipate that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen lowered Manitowoc from a "hold" rating to a "sell" rating in a research report on Monday. Robert W. Baird lowered their price target on Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Finally, Barclays lifted their price objective 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. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Manitowoc presently 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.