Currently trading at lifetime low P/E ratio and still generating revenue gains while increasing margins. Furthermore, the price of steel is following the trend of other commodities and moving downward while governments in America, Canada and Europe have announced infrastructure development programs designed in part to counter job loss and economic stagnation.
I have a real understanding of this company. 2008 was a record year for their GROVE Worldwide division. 2009 projections were scaled back to 2008, what does that tell you. This company builds some of finest equipment in this market. Their brand loyalty is unmatched and with the price at this level, this is one for the record books on future returns!!!
Manitowoc's business is largely driven by demand for cranes. As global economic growth continues to show strength, construction spending will likely keep pace. The building of commerical and residential high-rises will benefit Manitowoc.