Hedge Funds Are Buying Manitowoc Company, Inc. (MTW)

Manitowoc Company, Inc. (NYSE:MTW) has experienced an increase in enthusiasm from smart money lately.

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Keeping this in mind, it’s important to take a look at the latest action encompassing Manitowoc Company, Inc. (NYSE:MTW).

How have hedgies been trading Manitowoc Company, Inc. (NYSE:MTW)?

Heading into Q2, a total of 23 of the hedge funds we track held long positions in this stock, a change of 5% from the first quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes significantly.

According to our comprehensive database, James Dinan’s York Capital Management had the most valuable position in Manitowoc Company, Inc. (NYSE:MTW), worth close to $91 million, accounting for 2% of its total 13F portfolio. On York Capital Management’s heels is Sean Cullinan of Point State Capital, with a $44.7 million position; 0.6% of its 13F portfolio is allocated to the stock. Remaining hedge funds that are bullish include Crispin Odey’s Odey Asset Management Group, Daniel Arbess’s Xerion and Donald Chiboucis’s Columbus Circle Investors.

As one would reasonably expect, some big names have been driving this bullishness. Point State Capital, managed by Sean Cullinan, initiated the most outsized position in Manitowoc Company, Inc. (NYSE:MTW). Point State Capital had 44.7 million invested in the company at the end of the quarter. Crispin Odey’s Odey Asset Management Group also made a $33.1 million investment in the stock during the quarter. The other funds with brand new MTW positions are Daniel Arbess’s Xerion, Donald Chiboucis’s Columbus Circle Investors, and George Soros’s Soros Fund Management.

What do corporate executives and insiders think about Manitowoc Company, Inc. (NYSE:MTW)?

Insider trading activity, especially when it’s bullish, is particularly usable when the company in question has seen transactions within the past 180 days. Over the last 180-day time period, Manitowoc Company, Inc. (NYSE:MTW) has experienced zero unique insiders buying, and 7 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Manitowoc Company, Inc. (NYSE:MTW). These stocks are Astec Industries, Inc. (NASDAQ:ASTE), Lindsay Corporation (NYSE:LNN), Joy Global Inc. (NYSE:JOY), AGCO Corporation (NYSE:AGCO), and Terex Corporation (NYSE:TEX). This group of stocks are in the farm & construction machinery industry and their market caps match MTW’s market cap.