The Manitowoc Company, Inc. (NYSE:MTW) Shares Bought by Front Street Capital Management Inc.

Front Street Capital Management Inc. lifted its stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,806,642 shares of the industrial products company's stock after acquiring an additional 217,389 shares during the period. Manitowoc accounts for 6.2% of Front Street Capital Management Inc.'s portfolio, making the stock its 7th largest position. Front Street Capital Management Inc. owned 7.90% of Manitowoc worth $32,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Manitowoc by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 773,565 shares of the industrial products company's stock valued at $12,911,000 after buying an additional 46,417 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Manitowoc during the second quarter valued at approximately $8,813,000. Acadian Asset Management LLC boosted its stake in Manitowoc by 4.3% in the first quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company's stock valued at $6,172,000 after acquiring an additional 18,181 shares in the last quarter. TCW Group Inc. grew its holdings in Manitowoc by 65.4% in 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 during the last quarter. Finally, American Century Companies Inc. grew its holdings in Manitowoc by 33.6% in 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 during the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Stock Performance

Shares of NYSE:MTW traded up $0.12 during midday trading on Tuesday, reaching $9.53. The company's stock had a trading volume of 183,281 shares, compared to its average volume of 272,200. The firm has a market capitalization of $338.71 million, a PE ratio of 12.88 and a beta of 1.85. The stock has a fifty day moving average of $10.45 and a 200 day moving average of $11.67. The Manitowoc Company, Inc. has a twelve month low of $8.85 and a twelve month high of $17.65. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share 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 company had revenue of $562.10 million for the quarter, compared to analysts' expectations of $598.00 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. The firm's revenue was down 6.8% compared to the same quarter last year. On average, equities analysts expect that The Manitowoc Company, Inc. will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.