The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by Caxton Associates LP

Caxton Associates LP trimmed its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 54.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,295 shares of the industrial products company’s stock after selling 23,069 shares during the quarter. Caxton Associates LP owned approximately 0.05% of Manitowoc worth $222,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Front Street Capital Management Inc. increased its position in shares of Manitowoc by 8.4% during the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after purchasing an additional 217,389 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Manitowoc during the second quarter worth approximately $8,813,000. Acadian Asset Management LLC increased its position in shares of Manitowoc by 4.3% during the first quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company’s stock worth $6,172,000 after purchasing an additional 18,181 shares in the last quarter. TCW Group Inc. increased its position in shares of Manitowoc by 65.4% during the second quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock worth $4,683,000 after purchasing an additional 160,601 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Manitowoc by 33.6% during the second 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 in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Shares of Manitowoc stock opened at $9.71 on Friday. The Manitowoc Company, Inc. has a 52 week low of $8.85 and a 52 week high of $17.65. The business’s fifty day simple moving average is $10.28 and its 200-day simple moving average is $11.59. The firm has a market cap of $345.10 million, a PE ratio of 12.95 and a beta of 1.85. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.25 EPS 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 business had revenue of $562.10 million during the quarter, compared to analyst estimates of $598.00 million. During the same period last year, the company earned $0.75 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts forecast that The Manitowoc Company, Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTW has been the subject of several analyst reports. UBS Group dropped their target price on Manitowoc from $18.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. dropped their target price on Manitowoc from $14.00 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group dropped their target price on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th. StockNews.com cut Manitowoc from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, Barclays dropped their target price on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.22.

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.