Gabelli Funds LLC Sells 147,750 Shares of Manitowoc Company Inc (MTW)
Gabelli Funds LLC lessened its holdings in Manitowoc Company Inc (NYSE:MTW) by 75.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,250 shares of the industrial products company’s stock after selling 147,750 shares during the quarter. Gabelli Funds LLC’s holdings in Manitowoc were worth $1,937,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new stake in shares of Manitowoc in the fourth quarter valued at about $129,000. Comerica Bank bought a new stake in shares of Manitowoc in the fourth quarter valued at about $987,000. Engineers Gate Manager LP bought a new stake in shares of Manitowoc in the fourth quarter valued at about $765,000. Hennessy Advisors Inc. bought a new stake in Manitowoc during the fourth quarter worth about $29,631,000. Finally, Fox Run Management L.L.C. bought a new stake in Manitowoc during the fourth quarter worth about $799,000.
In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.82% of the stock is currently owned by insiders.
Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). The business had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) EPS. equities analysts predict that Manitowoc Company Inc will post 0.54 earnings per share for the current fiscal year.
MTW has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price objective on shares of Manitowoc in a research report on Friday, November 24th. Seaport Global Securities raised shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, November 20th. Jefferies Group reaffirmed a “buy” rating on shares of Manitowoc in a research report on Friday, November 10th. Stifel Nicolaus upped their price objective on shares of Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks upped their price objective on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.92.
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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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