GSA Capital Partners LLP Buys 175,879 Shares of 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 holdings 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 & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in Manitowoc during the fourth quarter valued at about $721,000. Two Sigma Investments LP grew its holdings in Manitowoc by 34.8% in the 4th quarter. Two Sigma Investments LP now owns 194,786 shares of the industrial products company's stock worth $1,778,000 after acquiring an additional 50,276 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Manitowoc by 84.5% in the 4th quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company's stock worth $2,088,000 after buying an additional 104,709 shares during the last quarter. Jane Street Group LLC grew its position 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 worth $1,404,000 after buying an additional 72,145 shares during the last quarter. Finally, Strong Tower Advisory Services grew its position in shares of Manitowoc by 111.0% in the 1st quarter. Strong Tower Advisory Services now owns 82,373 shares of the industrial products company's stock worth $708,000 after buying an additional 43,332 shares during the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Stock Down 5.5%

MTW traded down $0.71 during trading on Friday, reaching $12.05. The stock had a trading volume of 203,043 shares, compared to its average volume of 267,650. The stock's 50 day moving average is $11.95 and its two-hundred day moving average is $10.29. The company has a current ratio of 1.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $426.87 million, a price-to-earnings ratio of 9.67 and a beta of 2.03. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.61.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). The company had revenue of $470.90 million for the quarter, compared to analysts' expectations of $479.39 million. Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Insider Transactions at Manitowoc

In other Manitowoc news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $8.68 per share, with a total value of $26,040.00. Following the transaction, the chief executive officer owned 690,142 shares of the company's stock, valued at $5,990,432.56. The trade was a 0.44% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Robert W. Baird reduced their price objective on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group boosted their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.26.

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.