In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Manitowoc Co Inc. (NYSE:MTW) reported that Southpoint Capital Advisors has picked up 7,069,000 of common stock as of 2017-05-04.
The acquisition brings the aggregate amount owned by Southpoint Capital Advisors to a total of 7,069,000 representing less than 5.03% stake in the company.
For those not familiar with the company, The Manitowoc Company, Inc. is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name. It designs and manufactures mobile telescopic cranes, which it sells under the Grove brand name and a line of hydraulically powered telescopic boom trucks, which it sells under the National Crane brand name. It also provides crane product parts and services and crane rebuilding, remanufacturing and training services, which are delivered under the Manitowoc Crane Care brand name. Its crane products are used in a range of applications, including energy production/distribution and utilities, petrochemical and industrial projects, and infrastructure applications.
A glance at Manitowoc Co Inc. (NYSE:MTW)’s key stats reveals a current market capitalization of 749.65 Million based on 140.48 Million shares outstanding and a price at last close of $5.51 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-21, Ravenscroft picked up 5,000 at a purchase price of $6.57. This brings their total holding to 7,062,964 as of the date of the filing.
On the sell side, the most recent transaction saw Raymond unload 5,200 shares at a sale price of $6.29. This brings their total holding to 22,679.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Manitowoc Co Inc. (NYSE:MTW) as things move forward to see if its progress aligns with these transactions.
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