R Squared Ltd Invests $66,000 in The Manitowoc Company, Inc. (NYSE:MTW)

R Squared Ltd purchased a new position in The Manitowoc Company, Inc. (NYSE:MTW) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,255 shares of the industrial products company’s stock, valued at approximately $66,000.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its holdings in Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,327 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Manitowoc by 63.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 1,828 shares during the last quarter. nVerses Capital LLC acquired a new stake in Manitowoc in the 3rd quarter valued at about $51,000. Quantbot Technologies LP increased its holdings in Manitowoc by 94.7% during the 3rd quarter. Quantbot Technologies LP now owns 8,486 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 4,128 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Manitowoc during the third quarter worth about $129,000. 78.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on MTW shares. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird lowered their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.47.

Manitowoc Stock Performance

NYSE MTW opened at $9.99 on Friday. The business’s 50-day moving average price is $9.52 and its 200 day moving average price is $9.96. 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 Manitowoc Company, Inc. has a twelve month low of $8.30 and a twelve month high of $17.65. The company has a market capitalization of $350.95 million, a PE ratio of -37.00 and a beta of 1.84.

Manitowoc (NYSE:MTW) last released its earnings results 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). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The company had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. During the same period in the prior year, the business posted $0.22 earnings per share. Manitowoc’s revenue was up .7% on a year-over-year basis. On average, research analysts predict that The Manitowoc Company, Inc. will post 0.44 earnings per share for the current year.

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.