Ontario Teachers Pension Plan Board purchased a new position in shares of Manitowoc Company Inc (NYSE:MTW) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,417 shares of the industrial products company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can raised its position in Manitowoc by 30.4% during the fourth quarter. Bank of Montreal Can now owns 2,864 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 668 shares in the last quarter. Federated Investors Inc. PA raised its position in Manitowoc by 73.6% during the first quarter. Federated Investors Inc. PA now owns 1,668 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 707 shares in the last quarter. Raymond James & Associates raised its position in Manitowoc by 6.6% during the fourth quarter. Raymond James & Associates now owns 12,602 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 782 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Manitowoc by 12.9% in the first quarter. Nisa Investment Advisors LLC now owns 8,725 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 1,000 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Manitowoc by 12.1% in the fourth quarter. Legal & General Group Plc now owns 14,095 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 1,520 shares during the period. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of Manitowoc from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.63.

Shares of MTW stock traded down $0.16 on Wednesday, hitting $15.21. The company’s stock had a trading volume of 58,876 shares, compared to its average volume of 456,458. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.76. Manitowoc Company Inc has a fifty-two week low of $13.22 and a fifty-two week high of $28.11. The company has a market capitalization of $557.97 million, a PE ratio of 23.77 and a beta of 2.03.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Manitowoc had a negative net margin of 4.46% and a positive return on equity of 4.78%. The business had revenue of $418.00 million for the quarter, compared to the consensus estimate of $399.28 million. During the same period in the prior year, the company posted ($0.12) earnings per share. Manitowoc’s revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that Manitowoc Company Inc will post 1.39 EPS for the current year.

In other Manitowoc news, EVP Aaron H. Ravenscroft sold 3,191 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $16.48, for a total transaction of $52,587.68. Following the sale, the executive vice president now directly owns 20,697 shares in the company, valued at $341,086.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David J. Antoniuk sold 6,014 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $13.96, for a total transaction of $83,955.44. Following the sale, the chief financial officer now owns 37,544 shares in the company, valued at $524,114.24. The disclosure for this sale can be found here. Insiders sold 21,593 shares of company stock worth $340,450 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

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Manitowoc Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Institutional Ownership by Quarter for Manitowoc (NYSE:MTW)

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