Insider Buying: The Manitowoc Company, Inc. (NYSE:MTW) CFO Acquires $10,632.00 in Stock

The Manitowoc Company, Inc. (NYSE:MTW) CFO Brian P. Regan acquired 1,200 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $8.86 per share, for a total transaction of $10,632.00. Following the purchase, the chief financial officer now directly owns 109,486 shares in the company, valued at approximately $970,045.96. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Manitowoc Stock Up 15.3 %

Shares of Manitowoc stock opened at $10.94 on Thursday. The stock’s fifty day moving average is $9.63 and its 200-day moving average is $10.83. The firm has a market capitalization of $384.32 million, a PE ratio of -40.52 and a beta of 1.84. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The Manitowoc Company, Inc. has a 12-month low of $8.50 and a 12-month high of $17.65.

Manitowoc (NYSE:MTW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). The company had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. Equities analysts anticipate that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MTW. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays dropped their price objective on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Robert W. Baird dropped their price objective on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, The Goldman Sachs Group dropped their price objective on Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.47.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. US Bancorp DE raised 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 buying an additional 1,327 shares during the period. CWM LLC raised its position in Manitowoc by 97.0% during the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after buying an additional 1,482 shares during the period. Price T Rowe Associates Inc. MD raised its position in Manitowoc by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after buying an additional 1,516 shares during the period. Point72 Asset Management L.P. raised its position in Manitowoc by 63.0% during the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,828 shares during the period. Finally, Goldstein Advisors LLC raised its position in Manitowoc by 14.0% during the second quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company’s stock valued at $188,000 after buying an additional 2,000 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

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.