Jane Street Group LLC Boosts Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

Jane Street Group LLC increased its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 103.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,647 shares of the industrial products company’s stock after purchasing an additional 41,427 shares during the period. Jane Street Group LLC owned approximately 0.23% of Manitowoc worth $785,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Manitowoc by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 173,983 shares of the industrial products company’s stock valued at $2,006,000 after buying an additional 9,753 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Manitowoc by 144.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,151 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 16,646 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Manitowoc during the second quarter valued at approximately $8,813,000. Isthmus Partners LLC lifted its stake in shares of Manitowoc by 1.8% in the 2nd quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 3,767 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Manitowoc by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock worth $3,028,000 after purchasing an additional 66,013 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Down 2.5 %

Shares of MTW opened at $8.90 on Friday. The firm has a fifty day moving average price of $9.90 and a 200-day moving average price of $10.17. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $312.63 million, a P/E ratio of -32.96 and a beta of 1.83. The Manitowoc Company, Inc. has a 12-month low of $8.50 and a 12-month high of $17.65.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.14). The company had revenue of $524.80 million during the quarter, compared to analysts’ expectations of $516.49 million. Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. Manitowoc’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. Equities research analysts expect that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MTW shares. Robert W. Baird lowered their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Manitowoc has an average rating of “Hold” and an average price target of $12.47.

Manitowoc Company 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.