Nationwide Fund Advisors Buys 36,018 Shares of Manitowoc Company Inc (MTW)
Nationwide Fund Advisors grew its stake in Manitowoc Company Inc (NYSE:MTW) by 33.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,328 shares of the industrial products company’s stock after acquiring an additional 36,018 shares during the quarter. Nationwide Fund Advisors owned about 0.10% of Manitowoc worth $1,281,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of MTW. BNP Paribas Arbitrage SA lifted its position in shares of Manitowoc by 646.0% in the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 16,065 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Manitowoc by 2.4% in the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 572 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Manitowoc by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Manitowoc in the second quarter valued at $198,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Manitowoc by 8.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 34,431 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 2,720 shares during the last quarter.
Several equities analysts recently commented on MTW shares. SunTrust Banks reiterated a “hold” rating and issued a $28.00 target price on shares of Manitowoc in a research note on Friday, October 27th. Stifel Nicolaus upped their price target on Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Jefferies Group restated a “buy” rating on shares of Manitowoc in a research note on Friday, November 10th. Citigroup upped their price target on Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research upgraded Manitowoc from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Monday, September 11th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $37.89.
In related news, Director Charles David Myers bought 3,854 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $39.12 per share, with a total value of $150,768.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.82% of the stock is owned by corporate insiders.
Shares of Manitowoc Company Inc (NYSE:MTW) opened at $40.00 on Wednesday. Manitowoc Company Inc has a 1 year low of $21.00 and a 1 year high of $42.12. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1,410.00, a PE ratio of -29.20 and a beta of 1.56.
Manitowoc (NYSE:MTW) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.44. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The company had revenue of $399.40 million during the quarter, compared to the consensus estimate of $385.01 million. During the same quarter in the prior year, the business earned ($1.12) earnings per share. The company’s revenue was up 14.2% compared to the same quarter last year. research analysts expect that Manitowoc Company Inc will post -0.19 EPS for the current fiscal year.
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The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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