Hsbc Holdings PLC Buys 9,280 Shares of Manitowoc Company Inc (NYSE:MTW)

Hsbc Holdings PLC grew its position in Manitowoc Company Inc (NYSE:MTW) by 60.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,583 shares of the industrial products company’s stock after acquiring an additional 9,280 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Manitowoc worth $363,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Manitowoc in the 4th quarter worth approximately $28,000. Bank of Montreal Can lifted its position in shares of Manitowoc by 30.4% during the 4th quarter. Bank of Montreal Can now owns 2,864 shares of the industrial products company’s stock worth $42,000 after buying an additional 668 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Manitowoc by 406.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,725 shares of the industrial products company’s stock worth $114,000 after buying an additional 6,200 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Manitowoc by 19.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,682 shares of the industrial products company’s stock worth $158,000 after buying an additional 1,718 shares during the period. Finally, LPL Financial LLC bought a new position in shares of Manitowoc during the 4th quarter worth approximately $174,000. Institutional investors own 82.39% of the company’s stock.

Shares of Manitowoc stock traded up $0.69 during trading on Friday, reaching $18.39. The stock had a trading volume of 587,855 shares, compared to its average volume of 285,521. The firm has a market cap of $655.59 million, a price-to-earnings ratio of 28.73 and a beta of 1.88. Manitowoc Company Inc has a 52 week low of $13.22 and a 52 week high of $29.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.70 and a quick ratio of 0.78.

Manitowoc (NYSE:MTW) last released its earnings results on Thursday, February 7th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. Manitowoc had a positive return on equity of 3.55% and a negative net margin of 3.63%. The business had revenue of $515.30 million for the quarter, compared to analyst estimates of $488.02 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Manitowoc’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Manitowoc Company Inc will post 1.31 EPS for the current year.

In related news, EVP Aaron H. Ravenscroft sold 3,191 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $16.48, for a total transaction of $52,587.68. Following the sale, the executive vice president now owns 20,697 shares of the company’s stock, valued at $341,086.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barry Pennypacker sold 12,388 shares of the company’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $16.46, for a total value of $203,906.48. Following the sale, the chief executive officer now owns 136,862 shares of the company’s stock, valued at $2,252,748.52. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Several equities analysts recently commented on MTW shares. ValuEngine downgraded Manitowoc from a “sell” rating to a “strong sell” rating in a research report on Monday, February 4th. Zacks Investment Research downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.50.

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About Manitowoc

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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