Summit Global Investments raised its stake in The Manitowoc Company, Inc. (NYSE:MTW – Free Report) by 23.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,032 shares of the industrial products company’s stock after buying an additional 8,089 shares during the quarter. Summit Global Investments’ holdings in Manitowoc were worth $702,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MTW. Allspring Global Investments Holdings LLC boosted its stake in Manitowoc by 19.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after buying an additional 823 shares during the period. Arizona State Retirement System acquired a new stake in Manitowoc in the 3rd quarter valued at approximately $151,000. Spire Wealth Management acquired a new position in Manitowoc during the third quarter worth $174,000. Commonwealth Equity Services LLC purchased a new position in shares of Manitowoc during the third quarter worth $178,000. Finally, Perritt Capital Management Inc. grew its stake in shares of Manitowoc by 50.0% in the third quarter. Perritt Capital Management Inc. now owns 15,000 shares of the industrial products company’s stock valued at $226,000 after buying an additional 5,000 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.
Manitowoc Trading Down 0.3 %
Shares of MTW opened at $12.43 on Friday. The company has a market capitalization of $441.02 million, a P/E ratio of 11.40 and a beta of 2.05. The stock has a 50-day moving average price of $13.30 and a 200 day moving average price of $14.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83. The Manitowoc Company, Inc. has a one year low of $11.73 and a one year high of $19.81.
Analyst Ratings Changes
Several research firms have weighed in on MTW. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. lowered their price target on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Barclays cut their price target on Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.83.
Get Our Latest Report on Manitowoc
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.
Read More
- Five stocks we like better than Manitowoc
- What are earnings reports?
- MarketBeat Week in Review – 4/29 – 5/3
- 3 Fintech Stocks With Good 2021 Prospects
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Want to see what other hedge funds are holding MTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Manitowoc Company, Inc. (NYSE:MTW – Free Report).
Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.