The Manitowoc Company, Inc. (NYSE:MTW) Short Interest Down 15.6% in December

The Manitowoc Company, Inc. (NYSE:MTW) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 564,800 shares, a drop of 15.6% from the November 30th total of 669,500 shares. Based on an average trading volume of 305,000 shares, the short-interest ratio is currently 1.9 days. Approximately 1.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

MTW has been the subject of several analyst reports. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Robert W. Baird reduced their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.47.

Manitowoc Trading Up 4.1 %

Manitowoc stock traded up $0.36 during trading hours on Tuesday, reaching $9.13. 238,430 shares of the company’s stock were exchanged, compared to its average volume of 280,104. The firm’s 50 day simple moving average is $9.94 and its 200 day simple moving average is $10.20. Manitowoc has a twelve month low of $8.50 and a twelve month high of $17.65. 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 firm has a market capitalization of $320.71 million, a PE ratio of -33.81 and a beta of 1.83.

Manitowoc (NYSE:MTW) last released its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business 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 company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. Research analysts predict that Manitowoc will post 0.46 earnings per share for the current year.

Institutional Trading of Manitowoc

Several large investors have recently modified their holdings of MTW. Isthmus Partners LLC boosted its stake in Manitowoc by 1.8% during the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 3,767 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Manitowoc during the second quarter valued at about $26,000. US Bancorp DE boosted its position in shares of Manitowoc by 88.1% during the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,327 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Manitowoc in the 3rd quarter valued at about $51,000. Finally, Point72 Asset Management L.P. increased its position in Manitowoc by 63.0% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

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.