Jump Financial LLC Raises Stake in The Manitowoc Company, Inc. (NYSE:MTW)

Jump Financial LLC increased its position in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 88.4% during the 4th quarter, HoldingsChannel reports. The fund owned 66,500 shares of the industrial products company’s stock after acquiring an additional 31,200 shares during the quarter. Jump Financial LLC’s holdings in Manitowoc were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after purchasing an additional 64,101 shares during the last quarter. Jane Street Group LLC lifted its holdings in Manitowoc by 103.0% in the third quarter. Jane Street Group LLC now owns 81,647 shares of the industrial products company’s stock valued at $785,000 after acquiring an additional 41,427 shares during the last quarter. Geode Capital Management LLC grew its position in Manitowoc by 0.3% in the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after acquiring an additional 2,224 shares during the period. JPMorgan Chase & Co. increased its stake in Manitowoc by 6.2% during the third quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company’s stock worth $1,192,000 after acquiring an additional 7,191 shares during the last quarter. Finally, Strong Tower Advisory Services raised its position in Manitowoc by 94.4% in the fourth quarter. Strong Tower Advisory Services now owns 39,041 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 18,957 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Up 1.9 %

Manitowoc stock opened at $7.72 on Thursday. The company has a market capitalization of $273.51 million, a PE ratio of 4.98 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.46. The firm has a 50 day moving average price of $9.14 and a 200 day moving average price of $9.54.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. Research analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their price target on Manitowoc from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.66.

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.