Strong Tower Advisory Services Purchases 43,332 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Strong Tower Advisory Services lifted its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 111.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,373 shares of the industrial products company's stock after acquiring an additional 43,332 shares during the quarter. Strong Tower Advisory Services owned approximately 0.23% of Manitowoc worth $708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC lifted its holdings in Manitowoc by 10.0% during the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock worth $104,000 after buying an additional 1,030 shares in the last quarter. Northern Trust Corp lifted its holdings in Manitowoc by 0.5% during the 4th quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock worth $2,779,000 after buying an additional 1,552 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Manitowoc by 20.9% during the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock worth $94,000 after buying an additional 1,771 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Manitowoc by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company's stock worth $140,000 after buying an additional 1,944 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Manitowoc during the 4th quarter worth $35,000. 78.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on MTW. Robert W. Baird reduced their price objective on Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. UBS Group upped their price objective on Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.86.

Insider Buying and Selling

In other Manitowoc news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $8.68 per share, with a total value of $26,040.00. Following the purchase, the chief executive officer now owns 690,142 shares of the company's stock, valued at $5,990,432.56. This represents a 0.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.52% of the stock is currently owned by company insiders.

Manitowoc Trading Up 1.0%

Shares of MTW stock traded up $0.11 during trading hours on Thursday, reaching $10.85. The company had a trading volume of 26,378 shares, compared to its average volume of 291,349. The company has a 50 day moving average of $9.09 and a 200 day moving average of $9.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The firm has a market cap of $384.56 million, a price-to-earnings ratio of 7.00 and a beta of 1.92. The Manitowoc Company, Inc. has a 1-year low of $7.06 and a 1-year high of $13.46.

Manitowoc (NYSE:MTW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). The company had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. On average, equities research analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

About Manitowoc

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.