JPMorgan Chase & Co. Buys 104,709 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

JPMorgan Chase & Co. boosted its position in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 84.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 228,645 shares of the industrial products company's stock after acquiring an additional 104,709 shares during the quarter. JPMorgan Chase & Co. owned 0.65% of Manitowoc worth $2,088,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MTW. First Eagle Investment Management LLC grew its stake in shares of Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after purchasing an additional 397,837 shares during the period. Hodges Capital Management Inc. grew its stake in shares of Manitowoc by 93.9% during the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company's stock valued at $4,242,000 after purchasing an additional 225,090 shares during the period. State Street Corp grew its stake in shares of Manitowoc by 8.1% during the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company's stock valued at $8,197,000 after acquiring an additional 64,101 shares during the period. Jane Street Group LLC grew its stake in shares of Manitowoc by 103.0% during the 3rd quarter. Jane Street Group LLC now owns 81,647 shares of the industrial products company's stock valued at $785,000 after acquiring an additional 41,427 shares during the period. Finally, Tectonic Advisors LLC grew its stake in shares of Manitowoc by 103.1% during the 4th quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company's stock valued at $726,000 after acquiring an additional 40,333 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price objective on Manitowoc from $13.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, Manitowoc presently has a consensus rating of "Hold" and a consensus target price of $10.66.

Manitowoc Price Performance

NYSE MTW traded up $0.02 during trading hours on Tuesday, reaching $8.02. The company's stock had a trading volume of 295,796 shares, compared to its average volume of 287,636. The company has a market capitalization of $284.24 million, a price-to-earnings ratio of 5.17 and a beta of 1.79. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.46. The firm's 50-day moving average price is $8.85 and its 200-day moving average price is $9.50. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. On average, equities research analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

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.