Last $28.36 USD
Change Today -0.075 / -0.26%
Volume 137.8K
As of 10:40 AM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

manitowoc company inc (MTW) Snapshot

Open
$28.22
Previous Close
$28.43
Day High
$28.45
Day Low
$28.12
52 Week High
07/3/14 - $33.50
52 Week Low
10/9/13 - $18.12
Market Cap
3.8B
Average Volume 10 Days
865.1K
EPS TTM
$1.09
Shares Outstanding
135.3M
EX-Date
11/26/13
P/E TM
26.0x
Dividend
$0.08
Dividend Yield
0.28%
Current Stock Chart for MANITOWOC COMPANY INC (MTW)

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manitowoc company inc (MTW) Details

The Manitowoc Company, Inc. designs, manufactures, and sells cranes and related products, and foodservice equipment worldwide. It operates in two segments, Cranes and Related Products, and Foodservice Equipment. The Cranes and Related Products segment offers lattice-boom cranes, including crawler and truck mounted lattice-boom cranes, and crawler crane attachments; tower cranes comprising top slewing, luffing jib, topless, and self-erecting tower cranes; mobile telescopic cranes, including rough terrain, all-terrain, truck mounted, and industrial cranes; and boom trucks, such as telescopic boom trucks under Manitowoc, Grove, Potain, National Crane, Shuttlelift, and Crane Care brands. Its products are used for various applications, including energy and utilities; petrochemical and industrial projects; infrastructure development, such as road, bridge, and airport construction; and commercial and high-rise residential construction industries. This segment also provides crane product parts and services; and crane rebuilding, remanufacturing, and training services under the Manitowoc Crane Care brand name. The Foodservice Equipment segment provides cooking and warming equipment; ice machines and storage bins; refrigerator and freezer equipment; beverage dispensers and related products; serving and storage equipment; and food preparation equipment. This segment offers its products under Cleveland, Convotherm, Delfield, Frymaster, Garland, Inducs, KitchenCare, Koolaire, Kolpak, Kysor Panel Systems, Lincoln, Manitowoc, Merrychef, Multiplex, and Servend brands. Its products are used by commercial and institutional foodservice operators, such as full service restaurants, quick-service restaurant chains, hotels, caterers, supermarkets, convenience stores, business and industry, hospitals, schools, and other institutions. This segment also provides parts and aftermarket services under the KitchenCare brand. The company was founded in 1853 and is based in Manitowoc, Wisconsin.

manitowoc company inc (MTW) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $985.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $457.0K
Senior Vice President and President of Crane ...
Total Annual Compensation: $460.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $412.0K
Senior Vice President of Human Resources & Ad...
Total Annual Compensation: $420.0K
Compensation as of Fiscal Year 2013.

manitowoc company inc (MTW) Key Developments

The Manitowoc Company, Inc. Approves Amendment to its Articles of Incorporation

On July 29, 2014, the Board of Directors of The Manitowoc Company, Inc. approved amendments to the Restated By-Laws of the company to, among other things, effect the following: revise the annual meeting date By-Law so that the annual meeting will be held on the prescribed date of the first Tuesday in May or another date that the Board approves; provide that shareholder information required under the notice provisions of Section 1 of Article II of the By-Laws and Section 3 of Article III of the By-Laws must include information regarding derivative instruments; amend Article II of the By-Laws to provide that the Chairman may adjourn a shareholders meeting; expressly provide that the Board has the authority to specify the number of directors within the range set forth in Section 2 of Article III of the By-Laws; provide that a majority of the directors, rather than two directors, may call a special meeting of the Board; amend Section 12 of Article III to make the list of proscribed Board committee actions and the minimum number of directors on a committee consistent with amendments to Section 180.0825 of the Wisconsin Business Corporation Law; provide that senior officers may appoint Assistant Treasurers and Assistant Secretaries; amend Section 16 of Article IV of the By-Laws to clarify and enhance the company's procedures with respect to its indemnification and reimbursement of, and advancement of expenses to, the company's officers and directors, including in certain proceedings where an officer or director is a witness or a party or is threatened to be made a party; allow for book-entry delivery of shares of stock; and make certain conforming and clarifying changes related to the foregoing.

Manitowoc Company Plans Acquisitions

The Manitowoc Company, Inc. (NYSE:MTW) intends to make acquisitions. Carl Laurino, Chief Financial Officer of the company said: “In terms of capital allocation we remain dedicated to maintaining a strong balance sheet while making prudent capital investments. As we continue to pay down debt our lower leverage will enable us to evaluate our capital deployment that generates the highest risk adjustment returns. These include strategic acquisitions to grow our industry-leading position, share repurchases, and/or dividends strategies.”

The Manitowoc Company, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Capital Expenditures Guidance for the Full Year 2014

The Manitowoc Company, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $1,012.8 million against $1,037.1 million a year ago. Operating earnings were $95.4 million against $106.7 million a year ago. Earnings from continuing operations before taxes on income were $66.1 million against $71.4 million a year ago. Earnings from continuing operations were $46.9 million against $62.1 million a year ago. Net earnings attributable to the company were $46.6 million or $0.34 per diluted share against $57.6 million or $0.43 per diluted share a year ago. Earnings per diluted share from continuing operations attributable to the company were $0.34 against $0.46 a year ago. Capital expenditures were $18.3 million against $25.6 million a year ago. For the six months, the company reported net sales of $1,862.8 million against $1,931.7 million a year ago. Operating earnings were $149.0 million against $162.6 million a year ago. Earnings from continuing operations before taxes on income were $74.7 million against $93.7 million a year ago. Earnings from continuing operations were $52.9 million against $75.9 million a year ago. Net earnings attributable to the company were $37.8 million or $0.28 per diluted share against $68.0 million or $0.50 per diluted share a year ago. Earnings per diluted share from continuing operations attributable to the company were $0.35 against $0.57 a year ago. Capital expenditures were $35.0 million against $46.5 million a year ago. The company provided capital expenditures guidance for the full year 2014. For the period, the company expects capital expenditures of approximately $90 million, depreciation & amortization of approximately $120 million and interest expense is expected to be less than $100 million. The company expects effective tax rate in the mid-teens percent range driven by expected third quarter discrete items.

 

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