5,300 Shares in The Manitowoc Company, Inc. (NYSE:MTW) Bought by nVerses Capital LLC

nVerses Capital LLC bought a new stake in The Manitowoc Company, Inc. (NYSE:MTW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,300 shares of the industrial products company’s stock, valued at approximately $51,000.

A number of other hedge funds have also made changes to their positions in the company. CWM LLC grew its stake 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 acquiring an additional 1,482 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Manitowoc by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,516 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Manitowoc by 63.0% in the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,828 shares during the last quarter. Goldstein Advisors LLC increased its stake in shares of Manitowoc by 14.0% during the 2nd quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Manitowoc during the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Trading Down 3.4 %

Shares of MTW stock opened at $9.85 on Tuesday. The firm’s 50-day simple moving average is $9.65 and its 200-day simple moving average is $11.15. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.89 and a quick ratio of 0.58. The Manitowoc Company, Inc. has a 1-year low of $8.85 and a 1-year high of $17.65. The firm has a market cap of $350.08 million, a P/E ratio of 13.13 and a beta of 1.84.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays dropped their price target on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group cut their price objective 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. Finally, StockNews.com lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Manitowoc currently has a consensus rating of “Hold” and a consensus target price of $12.56.

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.