Strong Tower Advisory Services Raises Stock Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Strong Tower Advisory Services increased its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 94.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,041 shares of the industrial products company’s stock after purchasing an additional 18,957 shares during the quarter. Strong Tower Advisory Services’ holdings in Manitowoc were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Manitowoc by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock valued at $3,028,000 after buying an additional 66,013 shares during the period. Renaissance Technologies LLC grew its holdings in Manitowoc by 86.7% in the second quarter. Renaissance Technologies LLC now owns 94,949 shares of the industrial products company’s stock valued at $1,095,000 after purchasing an additional 44,100 shares during the period. Hsbc Holdings PLC raised its position in shares of Manitowoc by 5.2% in the 2nd quarter. Hsbc Holdings PLC now owns 54,250 shares of the industrial products company’s stock worth $579,000 after buying an additional 2,689 shares during the period. Bank of Montreal Can purchased a new stake in Manitowoc during the second quarter valued at about $2,385,000. Finally, Front Street Capital Management Inc. increased its stake in Manitowoc by 8.4% during the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after acquiring an additional 217,389 shares during the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Stock Performance

MTW opened at $9.30 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The Manitowoc Company, Inc. has a 1-year low of $8.30 and a 1-year high of $17.65. The company has a 50-day moving average of $9.68 and a 200-day moving average of $10.02.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.14). The firm had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, analysts forecast that The Manitowoc Company, Inc. will post 0.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MTW shares. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird dropped their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Manitowoc has an average rating of “Hold” and an average target price of $12.47.

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.