Front Street Capital Management Inc. Purchases 243,077 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Front Street Capital Management Inc. boosted its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,369,583 shares of the industrial products company’s stock after acquiring an additional 243,077 shares during the quarter. Manitowoc accounts for about 5.3% of Front Street Capital Management Inc.’s holdings, making the stock its 6th biggest position. Front Street Capital Management Inc. owned 0.10% of Manitowoc worth $30,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTW. State Street Corp increased its stake in Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after buying an additional 64,101 shares during the last quarter. Hodges Capital Management Inc. increased its position in shares of Manitowoc by 93.9% during the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after acquiring an additional 225,090 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in Manitowoc by 103.1% during the fourth quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company’s stock worth $726,000 after acquiring an additional 40,333 shares during the period. Geode Capital Management LLC increased its position in shares of Manitowoc by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock valued at $7,643,000 after purchasing an additional 2,224 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Manitowoc by 6.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company’s stock worth $1,192,000 after purchasing an additional 7,191 shares during the period. Institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Performance

NYSE:MTW opened at $7.58 on Friday. The Manitowoc Company, Inc. has a 1-year low of $7.06 and a 1-year high of $13.46. 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 business has a 50 day moving average of $9.36 and a 200 day moving average of $9.59. The company has a market capitalization of $268.47 million, a price-to-earnings ratio of 4.89 and a beta of 1.79.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.10 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, sell-side analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their target price on shares of Manitowoc from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, Manitowoc currently has a consensus rating of “Hold” and an average target price of $10.66.

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.