Manitowoc (NYSE:MTW) Sees Large Volume Increase

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 110,248 shares traded hands during mid-day trading, a decline of 58% from the previous session's volume of 264,507 shares.The stock last traded at $14.17 and had previously closed at $14.09.

Analysts Set New Price Targets

MTW has been the subject of several recent research reports. StockNews.com downgraded Manitowoc from a "buy" rating to a "hold" rating in a research note on Thursday, February 22nd. Wells Fargo & Company decreased their price target on shares of Manitowoc from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.67.

Manitowoc Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83. The company has a 50-day moving average price of $14.39 and a 200-day moving average price of $14.70. The firm has a market capitalization of $485.37 million, a price-to-earnings ratio of 12.55 and a beta of 2.04.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.14). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The business had revenue of $595.80 million for the quarter, compared to analyst estimates of $583.90 million. During the same quarter in the prior year, the company earned $0.74 EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, research analysts forecast that The Manitowoc Company, Inc. will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Manitowoc by 2.1% in the 1st quarter. BlackRock Inc. now owns 4,125,640 shares of the industrial products company's stock worth $70,507,000 after buying an additional 84,143 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Manitowoc by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the industrial products company's stock valued at $41,008,000 after purchasing an additional 138,602 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Manitowoc by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 2,314,905 shares of the industrial products company's stock valued at $38,636,000 after purchasing an additional 107,414 shares during the last quarter. Front Street Capital Management Inc. raised its position in shares of Manitowoc by 14.6% during the 1st quarter. Front Street Capital Management Inc. now owns 2,313,676 shares of the industrial products company's stock worth $34,890,000 after purchasing an additional 295,092 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Manitowoc by 14.5% during the 1st quarter. Invesco Ltd. now owns 2,227,321 shares of the industrial products company's stock worth $33,588,000 after purchasing an additional 281,654 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

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.