Jacobs Levy Equity Management Inc. Buys 17,747 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Jacobs Levy Equity Management Inc. boosted its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,915 shares of the industrial products company’s stock after buying an additional 17,747 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.34% of Manitowoc worth $4,309,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MTW. R Squared Ltd purchased a new stake in Manitowoc during the 4th quarter valued at $66,000. Quantbot Technologies LP boosted its stake in shares of Manitowoc by 20.9% in the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after buying an additional 1,771 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after buying an additional 1,030 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Manitowoc in the 4th quarter worth $115,000. Finally, SG Americas Securities LLC boosted its stake in shares of Manitowoc by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock worth $140,000 after buying an additional 1,944 shares during the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Price Performance

Shares of Manitowoc stock opened at $11.34 on Thursday. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.46. The stock’s fifty day moving average is $8.68 and its 200 day moving average is $9.47. The stock has a market cap of $401.92 million, a P/E ratio of 7.32 and a beta of 1.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTW) last announced its earnings results 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 company had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. Manitowoc’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Sell-side analysts anticipate that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTW has been the topic of a number of research reports. Robert W. Baird dropped their price target on Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. UBS Group dropped their price target on Manitowoc from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.46.

Insider Buying and Selling at Manitowoc

In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $8.68 per share, with a total value of $26,040.00. Following the completion of the acquisition, the chief executive officer now directly owns 690,142 shares in the company, valued at $5,990,432.56. The trade was a 0.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.52% of the company’s stock.

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.