The Manitowoc Company, Inc. $MTW Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in The Manitowoc Company by 126.6%, now holding 55,573 shares valued at approximately $477,000.
• Manitowoc reported $0.08 EPS for the last quarter, missing estimates, and experienced a 4.0% decline in year-over-year revenue.
• Analysts have adjusted their price targets for Manitowoc, with predictions ranging from $10.00 to $11.00, reflecting a cautious outlook on the stock.

Connor Clark & Lunn Investment Management Ltd. raised its stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 126.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,573 shares of the industrial products company's stock after buying an additional 31,047 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Manitowoc worth $477,000 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. D. E. Shaw & Co. Inc. lifted its position in shares of Manitowoc by 35.6% in 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 purchasing an additional 144,390 shares during the period. Voya Investment Management LLC lifted its position in shares of Manitowoc by 10.6% in the 4th quarter. Voya Investment Management LLC now owns 533,738 shares of the industrial products company's stock worth $4,873,000 after purchasing an additional 51,217 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Manitowoc by 3.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 471,915 shares of the industrial products company's stock worth $4,309,000 after purchasing an additional 17,747 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Manitowoc by 16.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company's stock worth $4,002,000 after purchasing an additional 64,983 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Manitowoc by 0.5% in the 4th quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock worth $2,779,000 after purchasing an additional 1,552 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Stock Performance

Manitowoc stock traded down $0.0050 during mid-day trading on Monday, reaching $10.1050. 318,311 shares of the company traded hands, compared to its average volume of 372,586. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.61. The company has a market capitalization of $358.32 million, a price-to-earnings ratio of 8.08 and a beta of 2.07. The firm's fifty day moving average is $11.81 and its two-hundred day moving average is $10.40.

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

Analyst Upgrades and Downgrades

MTW has been the subject of several research reports. UBS Group upped their price target 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. Barclays upped their price target 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. Wall Street Zen raised shares of Manitowoc from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Robert W. Baird reduced their price objective on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company 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.