The Manitowoc Company, Inc. (NYSE:MTW) Short Interest Up 27.6% in May

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 864,200 shares, an increase of 27.6% from the May 15th total of 677,300 shares. Based on an average daily volume of 261,400 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.6% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

MTW has been the topic of a number of recent analyst reports. Robert W. Baird dropped 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 increased their price target on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two equities research 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, Manitowoc presently has an average rating of "Hold" and a consensus target price of $10.86.

Insider Activity

In related news, CEO Aaron H. Ravenscroft bought 3,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $8.68 per share, with a total value of $26,040.00. Following the purchase, the chief executive officer now directly owns 690,142 shares of the company's stock, valued at $5,990,432.56. This trade represents a 0.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds and other institutional investors have recently bought and sold shares of MTW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Manitowoc in the 4th quarter worth approximately $35,000. Quantbot Technologies LP boosted its position in Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock worth $94,000 after purchasing an additional 1,771 shares in the last quarter. LPL Financial LLC boosted its position in Manitowoc by 10.0% during the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock worth $104,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC grew its holdings in Manitowoc by 3,309.6% in the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 11,782 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Manitowoc in the first quarter valued at $112,000. Institutional investors and hedge funds own 78.66% of the company's stock.

Manitowoc Stock Down 0.6%

Manitowoc stock opened at $11.37 on Wednesday. The stock has a 50 day moving average of $9.68 and a two-hundred day moving average of $9.58. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.46. The stock has a market capitalization of $402.95 million, a price-to-earnings ratio of 9.10 and a beta of 2.02. The company has a current ratio of 1.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.59.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). The firm had revenue of $470.90 million for the quarter, compared to analysts' expectations of $479.39 million. Manitowoc had a return on equity of 0.63% and a net margin of 2.09%. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, research analysts expect that Manitowoc will post 0.5 earnings per share for the current year.

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.

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