The Manitowoc Company, Inc. (NYSE:MTW) Sees Significant Decrease in Short Interest

The Manitowoc Company, Inc. (NYSE:MTW) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 564,800 shares, a drop of 15.6% from the November 30th total of 669,500 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 305,000 shares, the short-interest ratio is presently 1.9 days.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently modified their holdings of MTW. Isthmus Partners LLC increased its position in shares of Manitowoc by 1.8% during the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 3,767 shares during the period. Innealta Capital LLC purchased a new stake in shares of Manitowoc during the second quarter valued at about $26,000. US Bancorp DE lifted its position in Manitowoc by 88.1% during the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,327 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Manitowoc in the 3rd quarter worth $51,000. Finally, Point72 Asset Management L.P. boosted its holdings in Manitowoc by 63.0% in the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 1,828 shares in the last quarter. 78.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Manitowoc Trading Down 2.0 %

NYSE:MTW traded down $0.18 during midday trading on Friday, hitting $8.77. 240,940 shares of the company traded hands, compared to its average volume of 280,609. 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’s fifty day moving average is $9.96 and its 200-day moving average is $10.23. The firm has a market capitalization of $308.06 million, a P/E ratio of -32.48 and a beta of 1.83. Manitowoc has a 12-month low of $8.50 and a 12-month high of $17.65.

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). The firm had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. Manitowoc’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. On average, sell-side analysts predict that Manitowoc will post 0.46 EPS 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.