Alan Fournier's hedge fund firm Pennant Capital has filed a 13G with the SEC regarding its position in Manitowoc (MTW). Per the filing, Pennant now owns 7.4% of the company with over 10.13 million shares.
This means they've increased their position size by almost 2 million shares. Pennant previously owned over 8.15 million shares of MTW as of the end of the first quarter. The filing was made due to activity on July 30th.
Two other prominent investors are also involved in the shares. Glenview added to its Manitowoc stake back in late April. Late last year, Carl Icahn also got involved in MTW and pushed for the company to split up, which they've agreed to do.
Per Google Finance, Manitowoc is "a multi-industry capital goods manufacturer. The Company operates in two markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks. Foodservice is a manufacturer of commercial foodservice equipment serving the ice, beverage, refrigeration, food-preparation, holding and cooking needs of restaurants, convenience stores, hotels, healthcare and institutional applications. Its Crane products are marketed under the Manitowoc, Grove, Potain, National Crane, Shuttlelift and Manitowoc Crane Care brand names. Its Foodservice products, services and solutions are marketed under Cleveland, Convotherm, Dean, Delfield, Fabristeel, Frymaster, Garland, Inducs, Koolaire, Kolpak, Kysor Panel Systems and U.S. Range, Lincoln, Manitowoc Ice and Merrychef, among others.."
Tuesday, August 11, 2015
Pennant Capital Increases Manitowoc Position
Tuesday, June 2, 2015
Glenview Capital Adds To Manitowoc Position, Files 13D
Larry Robbins' hedge fund firm Glenview Capital has filed a 13D on shares of Manitowoc (MTW). Per the filing, Glenview now owns 7.06% of the company with over 9.61 million shares.
This means they've increased their position size by 1 million shares since the end of the first quarter. This is the second time Glenview has added to their stake this year. The filing shows they were out purchasing in late April at weighted average prices of around $19.55.
The 13D contains the standard boilerplate about potentially engaging management, etc.
Readers will recall that activist Carl Icahn successfully pushed for the company to split up. Manitowoc will split into two: a crane manufacturer and a food service unit.
For more from Glenview, head to Larry Robbins' Sohn Conference presentation.
Per Google Finance, Manitowoc is "a multi-industry, capital goods manufacturer. MTW operates in two markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Foodservice is a manufacturer of commercial foodservice equipment serving the ice, beverage, refrigeration, food-preparation, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications."
Tuesday, March 24, 2015
Glenview Capital Starts Manitowoc Position, Adds To Brookdale Senior Living
Larry Robbins' hedge fund firm Glenview Capital has filed two separate 13G's with the SEC recently:
Starts New Manitowoc Position
First, Glenview has revealed a 6.34% ownership stake in Manitowoc (MTW) with over 8.6 million shares. This is a brand new position for the firm and the filing was made due to activity on March 11th.
Readers will recall that activist investor Carl Icahn has pushed Manitowoc to split up.
Per Google Finance, Manitowoc is "a multi-industry, capital goods manufacturer. MTW operates in two markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Foodservice is a manufacturer of commercial foodservice equipment serving the ice, beverage, refrigeration, food-preparation, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications. Its Crane products are marketed under the Manitowoc, Grove, Potain, National, Shuttlelift, Dongyue, and Crane Care brand names."
Adds To Brookdale Senior Living Stake
Second, Robbins' firm has disclosed a 6.32% ownership stake in Brookdale Senior Living (BKD). Per the SEC filing, Glenview now owns over 11.59 million shares.
This marks an increase in their position size of over 2.83 million shares since the end of the first quarter. This filing was made due to portfolio activity on March 12th.
You can view some of Glenview's other recent portfolio activity here.
Per Google Finance, Brookdale Senior Living is "an owner and operator of senior living communities throughout the United States. The Company owns, leases and operates retirement centers, assisted living and dementia-care communities and continuing care retirement centers (CCRCs). The Company has six reportable segments: retirement centers; assisted living; CCRCs – rental; CCRCs – entry fee; Brookdale Ancillary Services; and management services."
Friday, June 27, 2014
What We're Reading ~ Hedge Fund Links 6/27/14
Hedge funds are now a $3 trillion industry [Barrons]
Inside the mind of Fairholme's Bruce Berkowitz [Institutional Investor]
How to craft the world's worst pitchbook [HF Intelligence]
Cybersecurity firm says large hedge fund attacked [CNBC]
Omega Advisors' Einhorn says bull market not over [Reuters]
Paulson & Co amasses large stake in Allergan [Reuters]
Relational said to plan activist campaign against Manitowoc [Dealbook]
Jeff Ubben has new target: his hedge fund peers [WSJ]
Former ESL pros open activist operation [HF Alert]
Hedge fund investors are fussy about fees [Funds Europe]
Hedge funds face higher prime broker charges under Basel III [Risk.net]
Saba, Brevan Howard struggle as volatility disappears [BusinessWeek]
Investors adopting partnership-driven approach to hedge funds [COO Connect]
HF analyst: the things I know for sure [Wall Street Oasis]
