GSA Capital Partners LLP Has $2.06 Million Stake in The Manitowoc Company, Inc. (NYSE:MTW)

Key Points

• GSA Capital Partners LLP increased its stake in The Manitowoc Company, Inc. by 272.9%, holding approximately $2.06 million worth of shares as of the latest SEC filing.
• Manitowoc's CEO, Aaron H. Ravenscroft, purchased 3,000 shares of the company's stock for about $26,040, increasing his total ownership to approximately $5.99 million.
• Analysts have set a consensus rating of "Hold" for Manitowoc, with an average price target of $11.26, reflecting recent fluctuations in stock evaluations.

GSA Capital Partners LLP raised its position in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 272.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 240,327 shares of the industrial products company's stock after buying an additional 175,879 shares during the period. GSA Capital Partners LLP owned about 0.68% of Manitowoc worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of MTW. Quantbot Technologies LP raised its position in shares of Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock worth $94,000 after acquiring an additional 1,771 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Manitowoc during the fourth quarter valued at $217,000. LPL Financial LLC lifted its stake in shares of Manitowoc by 10.0% during the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after acquiring an additional 1,030 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Manitowoc by 84.5% during the fourth quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company's stock valued at $2,088,000 after acquiring an additional 104,709 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Manitowoc during the fourth quarter valued at $497,000. Institutional investors own 78.66% of the company's stock.

Insider Transactions at Manitowoc

In related news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $8.68 per share, with a total value of $26,040.00. Following the acquisition, the chief executive officer directly owned 690,142 shares of the company's stock, valued at approximately $5,990,432.56. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MTW. Robert W. Baird cut their price target on Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Barclays upped their price target on Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Finally, UBS Group increased their target price on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, Manitowoc currently has a consensus rating of "Hold" and an average target price of $11.26.

Manitowoc Stock Up 0.2%

MTW stock opened at $13.25 on Tuesday. The business has a 50 day moving average price of $11.84 and a two-hundred day moving average price of $10.23. The company has a market cap of $469.58 million, a price-to-earnings ratio of 10.60 and a beta of 2.03. The Manitowoc Company, Inc. has a twelve month low of $7.06 and a twelve month high of $13.61. The company has a quick ratio of 0.64, a current ratio of 1.90 and a debt-to-equity ratio of 0.59.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. Analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

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.

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