MTW
Manitowoc Company Inc.
Industrial/Transportation, Event Driven/Special Sit
08/04/2014
Presented
| Date | 08/01/2014 |
| Price | $27.04 |
| Market Cap | $3.66B |
| Ent Value | $5.38B |
| P/E Ratio | 21.74x |
| Book Value | $6.08 |
| Div Yield | 0.4% |
| Shares O/S | 0.00M |
| Ave Daily Vol | 2,160,000 |
| Short Int | 7.42% |
Current
| Price | $9.82 |
| Market Cap | $0.34B |
| 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. |
Publicly traded companies mentioned herein: The Manitowoc Company (MTW), Illinois Tool Works (ITW)
Highlights
The presenter has been long shares of Manitowoc (MTW) for some time, and believes the recent sell off following weaker than expected 2Q 2014 earnings, and soft guidance for the remainder of the year has created a buying opportunity. The risk/ reward with shares in the high $20s is favorable, and with Relational pressing management to break up the company there could be a near-term catalyst.
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