The Manitowoc Company, Inc. $MTW Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in The Manitowoc Company by 13.2%, selling 62,183 shares to hold approximately 409,732 shares valued at $3.52 million.
• Institutional investors now own 78.66% of Manitowoc, with significant increases in stakes from firms like GSA Capital Partners and Russell Investments.
• Analysts have mixed views on Manitowoc stock, with the consensus price target set at $11.00 and a mix of ratings including three "Hold" and one "Sell."

Jacobs Levy Equity Management Inc. lessened its position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 13.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,732 shares of the industrial products company's stock after selling 62,183 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.16% of Manitowoc worth $3,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MTW. Point72 Asia Singapore Pte. Ltd. bought a new stake in Manitowoc in 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 worth $104,000 after purchasing an additional 11,782 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Manitowoc in the 4th quarter valued at about $115,000. Balyasny Asset Management L.P. bought a new stake in shares of Manitowoc in the 4th quarter valued at about $156,000. Finally, MetLife Investment Management LLC increased its stake in shares of Manitowoc by 13.8% in 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 last quarter. Institutional investors own 78.66% of the company's stock.

Manitowoc Price Performance

NYSE MTW traded down $0.03 during trading hours on Friday, reaching $10.22. The company's stock had a trading volume of 378,970 shares, compared to its average volume of 299,473. The company's 50-day moving average is $11.27 and its two-hundred day moving average is $10.33. The Manitowoc Company, Inc. has a 1-year low of $7.06 and a 1-year high of $13.61. The firm has a market capitalization of $362.22 million, a price-to-earnings ratio of 8.17 and a beta of 2.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68.

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 the consensus estimate of $0.20 by ($0.12). The company had revenue of $539.50 million during the quarter, compared to analyst estimates of $580.18 million. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. Manitowoc's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. On average, equities analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTW. Wall Street Zen raised Manitowoc from a "sell" rating to a "hold" rating in a research report on Tuesday. UBS Group upped their target price on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays upped their target price on Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Finally, Robert W. Baird cut their price target on 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target 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.