Two Sigma Investments LP Acquires 50,276 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Two Sigma Investments LP increased its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 34.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,786 shares of the industrial products company's stock after purchasing an additional 50,276 shares during the period. Two Sigma Investments LP owned 0.55% of Manitowoc worth $1,778,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Front Street Capital Management Inc. lifted its stake in Manitowoc by 7.8% in the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company's stock worth $30,764,000 after purchasing an additional 243,077 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Manitowoc by 61.9% in the fourth quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company's stock worth $5,558,000 after purchasing an additional 232,744 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Manitowoc by 207.9% in the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock worth $5,379,000 after purchasing an additional 397,837 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Manitowoc by 35.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company's stock worth $5,025,000 after buying an additional 144,390 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Manitowoc by 10.6% during the fourth quarter. Voya Investment Management LLC now owns 533,738 shares of the industrial products company's stock valued at $4,873,000 after buying an additional 51,217 shares during the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Trading Up 1.3%

Shares of NYSE:MTW traded up $0.14 during trading on Friday, reaching $10.98. The company's stock had a trading volume of 142,092 shares, compared to its average volume of 291,951. The stock has a market capitalization of $389.27 million, a PE ratio of 7.09 and a beta of 2.02. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.46. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The firm's 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $9.55.

Manitowoc (NYSE:MTW - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. Manitowoc's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, research analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Manitowoc

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

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.