Icahn finally addresses insider trading controversy, leaves key questions unanswered

Postado Março 08, 2018

That was down from the company's all-time high of $43.59 a share on January 26. Manitowoc Company had 68 analyst reports since July 27, 2015 according to SRatingsIntel. The firm had revenue of $481.50 million for the quarter, compared to the consensus estimate of $423.27 million. For the next year, analysts anticipate that the firm will report earnings of $1.34 per share, with EPS estimates ranging from $0.81 to $1.90.

The 81-year-old unloaded his shares of the crane company on Feb.12, days before the Commerce Department released a report recommending the tariffs that Trump later championed. Manitowoc had a net margin of 0.59% and a negative return on equity of 1.54%. The firm's revenue for the quarter was up 27.3% compared to the same quarter a year ago.

Shares of Manitowoc have lost nearly 20 percent since February 9, the last trading day before Icahn starting reducing his stake. Robert W. Baird lowered shares of Manitowoc from an "outperform" rating to a "neutral" rating and raised their target price for the stock from $27.95 to $33.00 in a research report on Friday, March 2nd. On Wednesday, November 1 the stock rating was upgraded by RBC Capital Markets to "Buy". Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Manitowoc presently has a consensus rating of "Hold" and an average target price of $38.85.

One week before Trump announced the tariffs, Icahn sold $31.3 million worth of stock in the Manitowoc Company, a manufacturer of construction cranes. Shares for $151,461 were sold by MUSIAL THOMAS G on Tuesday, February 13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The stock was sold at an average price of $32.07, for a total transaction of $44,128.32. The disclosure for this sale can be found here.

Since February 13, 2018, it had 0 buys, and 2 insider sales for $195,589 activity.

A number of large investors have recently made changes to their positions in the business. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company's stock worth $16,109,000 after purchasing an additional 278,220 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Manitowoc during the third quarter valued at approximately $225,000. Vanguard Group Inc. raised its stake in Manitowoc by 4.6% during the second quarter. (NYSE:MTW). First Mercantile has invested 0.03% in The Manitowoc Company, Inc. The company had a trading volume of 988,764 shares, compared to its average volume of 807,545. The company has a current ratio of 1.76, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39.