Freshford Capital Management Lowers stake in Manitowoc Company Inc (MTW)

Manitowoc Company Inc (MTW) : Freshford Capital Management reduced its stake in Manitowoc Company Inc by 20.26% during the most recent quarter end. The investment management company now holds a total of 2,834,215 shares of Manitowoc Company Inc which is valued at $13,490,863 after selling 720,232 shares in Manitowoc Company Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Manitowoc Company Inc makes up approximately 3.84% of Freshford Capital Management’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies boosted its stake in MTW in the latest quarter, The investment management firm added 67,881 additional shares and now holds a total of 78,736 shares of Manitowoc Company Inc which is valued at $374,783. Manitowoc Company Inc makes up approx 0.02% of Cubist Systematic Strategies’s portfolio. Victory Capital Management Inc sold out all of its stake in MTW during the most recent quarter. The investment firm sold 2,473,351 shares of MTW which is valued $11,748,417.Quantitative Investment Management boosted its stake in MTW in the latest quarter, The investment management firm added 79,400 additional shares and now holds a total of 159,300 shares of Manitowoc Company Inc which is valued at $901,638. Manitowoc Company Inc makes up approx 0.04% of Quantitative Investment Management’s portfolio.

Manitowoc Company Inc closed down -0.05 points or -1.02% at $4.85 with 13,27,731 shares getting traded on Thursday. Post opening the session at $4.92, the shares hit an intraday low of $4.76 and an intraday high of $4.92 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Manitowoc Company Inc reported $0.04 EPS for the quarter, based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus estimate of $0.04. The company had revenue of $457.70 million for the quarter, compared to analysts expectations of $463.99 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

The Manitowoc Company Inc. (MTW) is a multi-industry capital goods manufacturer. The Company operates in two markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry including lattice-boom cranes tower cranes mobile telescopic cranes and boom trucks. Foodservice is a manufacturer of commercial foodservice equipment serving the ice beverage refrigeration food-preparation holding and cooking needs of restaurants convenience stores hotels healthcare and institutional applications. Its Crane products are marketed under the Manitowoc Grove Potain National Crane Shuttlelift and Manitowoc Crane Care brand names. Its Foodservice products services and solutions are marketed under Cleveland Convotherm Dean Delfield Fabristeel Frymaster Garland Inducs Koolaire Kolpak Kysor Panel Systems and U.S. Range Lincoln Manitowoc Ice and Merrychef among others.

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