Assenagon Asset Management S.A. Sells 67,829 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Assenagon Asset Management S.A. lowered its stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 33.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,679 shares of the industrial products company's stock after selling 67,829 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.38% of Manitowoc worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. US Bancorp DE raised its holdings in shares of Manitowoc by 88.1% during the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 1,327 shares during the period. nVerses Capital LLC purchased a new position in Manitowoc during the 3rd quarter worth approximately $51,000. Point72 Asset Management L.P. raised its stake in Manitowoc by 63.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 1,828 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in shares of Manitowoc in the second quarter valued at $66,000. Finally, Quantbot Technologies LP boosted its position in shares of Manitowoc by 94.7% in the third quarter. Quantbot Technologies LP now owns 8,486 shares of the industrial products company's stock worth $82,000 after buying an additional 4,128 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Stock Up 0.3 %

Shares of NYSE MTW traded up $0.03 during trading hours on Friday, hitting $10.00. The stock had a trading volume of 264,290 shares, compared to its average volume of 232,666. The firm's 50-day moving average price is $9.57 and its two-hundred day moving average price is $9.99. The Manitowoc Company, Inc. has a 52 week low of $8.30 and a 52 week high of $17.65. The company has a market capitalization of $351.09 million, a P/E ratio of -37.02 and a beta of 1.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The business's revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. Analysts anticipate that The Manitowoc Company, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on MTW shares. StockNews.com raised Manitowoc from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Robert W. Baird dropped their target price on Manitowoc from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Manitowoc from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, Manitowoc presently has an average rating of "Hold" and a consensus target price of $12.47.

Manitowoc Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.