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

Jane Street Group LLC lifted its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 103.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 81,647 shares of the industrial products company’s stock after acquiring an additional 41,427 shares during the quarter. Jane Street Group LLC’s holdings in Manitowoc were worth $785,000 as of its most recent SEC filing.

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

Manitowoc Price Performance

Shares of NYSE MTW opened at $8.90 on Friday. The Manitowoc Company, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The company has a market cap of $312.63 million, a PE ratio of -32.96 and a beta of 1.83. The business has a 50-day simple moving average of $9.90 and a two-hundred day simple moving average of $10.17.

Manitowoc (NYSE:MTW) last released its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts expect that The Manitowoc Company, Inc. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Robert W. Baird reduced their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Manitowoc has a consensus 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.