The Manitowoc Company, Inc. $MTW Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. reduced its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,302,675 shares of the industrial products company’s stock after selling 66,908 shares during the quarter. Manitowoc comprises 5.4% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Front Street Capital Management Inc. owned 9.32% of Manitowoc worth $28,370,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Manitowoc in the 4th quarter valued at approximately $35,000. GAMMA Investing LLC raised its holdings in Manitowoc by 3,309.6% during the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 11,782 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Manitowoc during the fourth quarter worth $115,000. Balyasny Asset Management L.P. acquired a new position in Manitowoc during the fourth quarter worth $156,000. Finally, MetLife Investment Management LLC raised its holdings in Manitowoc by 13.8% during the first quarter. MetLife Investment Management LLC now owns 19,564 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 2,368 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Manitowoc stock opened at $10.16 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07. The stock has a fifty day moving average of $11.51 and a two-hundred day moving average of $10.36. The company has a market capitalization of $360.10 million, a price-to-earnings ratio of 8.12 and a beta of 2.17. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.61.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.12). The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $580.18 million. Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTW has been the subject of several research reports. Barclays lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. Wall Street Zen cut Manitowoc from a “hold” rating to a “sell” rating in a report on Monday, September 1st. Robert W. Baird reduced their price objective on Manitowoc from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, UBS Group lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Manitowoc currently has a consensus rating of “Reduce” and a consensus target price of $11.00.

About Manitowoc

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.