44,224 Shares in The Manitowoc Company, Inc. $MTW Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has recently acquired a new position in The Manitowoc Company, purchasing 44,224 shares valued at approximately $380,000, representing around 0.12% ownership.
• The Manitowoc Company reported $0.08 earnings per share in its latest earnings release, falling short of analysts' estimates by ($0.12), while revenue was down 4.0% year-over-year.
• Hedge funds and institutional investors now hold about 78.66% of Manitowoc's stock, indicating strong interest from large investors, with several firms significantly increasing their positions recently.

Dynamic Technology Lab Private Ltd bought a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 44,224 shares of the industrial products company's stock, valued at approximately $380,000. Dynamic Technology Lab Private Ltd owned 0.12% of Manitowoc at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Manitowoc during the 4th quarter valued at $35,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 11,782 shares during the period. Balyasny Asset Management L.P. bought a new stake in Manitowoc during the 4th quarter valued at $156,000. MetLife Investment Management LLC raised its holdings in 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 acquiring an additional 2,368 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Manitowoc during the 4th quarter valued at $181,000. Institutional investors own 78.66% of the company's stock.

Manitowoc Stock Up 0.8%

Shares of NYSE:MTW traded up $0.08 during trading on Wednesday, reaching $10.13. 21,500 shares of the stock traded hands, compared to its average volume of 281,507. The stock has a 50-day moving average of $11.16 and a two-hundred day moving average of $10.33. The Manitowoc Company, Inc. has a 52-week low of $7.06 and a 52-week high of $13.61. 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 stock has a market cap of $359.32 million, a P/E ratio of 8.11 and a beta of 2.17.

Manitowoc (NYSE:MTW - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.08 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 firm had revenue of $539.50 million for the quarter, compared to analysts' expectations of $580.18 million. During the same quarter in the previous year, the company earned $0.25 EPS. The company's quarterly revenue was down 4.0% compared to the same quarter last year. As a group, sell-side 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 a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Barclays upped their price target on shares of Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average 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.