The Manitowoc Company, Inc. (NYSE:MTW) is Front Street Capital Management Inc.’s 7th Largest Position

Front Street Capital Management Inc. raised its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,806,642 shares of the industrial products company’s stock after buying an additional 217,389 shares during the period. Manitowoc makes up approximately 6.2% of Front Street Capital Management Inc.’s portfolio, making the stock its 7th largest position. Front Street Capital Management Inc. owned 7.90% of Manitowoc worth $32,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC boosted its position in Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after buying an additional 1,482 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Manitowoc by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after buying an additional 1,516 shares during the period. Goldstein Advisors LLC boosted its position in Manitowoc by 14.0% in the 2nd quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company’s stock valued at $188,000 after buying an additional 2,000 shares during the period. Innealta Capital LLC purchased a new stake in shares of Manitowoc during the 2nd quarter worth $26,000. Finally, Hsbc Holdings PLC lifted its position in shares of Manitowoc by 5.2% during the 2nd quarter. Hsbc Holdings PLC now owns 54,250 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 2,689 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Down 1.8 %

Manitowoc stock opened at $9.41 on Tuesday. The Manitowoc Company, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $17.65. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.58 and a current ratio of 1.89. The company has a market capitalization of $334.44 million, a P/E ratio of 12.55 and a beta of 1.85. The stock has a 50-day simple moving average of $10.45 and a 200-day simple moving average of $11.67.

Manitowoc (NYSE:MTW) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.24). Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The firm had revenue of $562.10 million during the quarter, compared to analysts’ expectations of $598.00 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities research analysts expect that The Manitowoc Company, Inc. will post 0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MTW shares. StockNews.com cut shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of Manitowoc from $14.00 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Barclays decreased their price objective on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. UBS Group decreased their price objective on shares of Manitowoc from $18.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Finally, The Goldman Sachs Group reduced their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Manitowoc presently has a consensus rating of “Hold” and a consensus target price of $13.22.

Manitowoc 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.