Prudential Financial Inc. Sells 103,600 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Prudential Financial Inc. trimmed its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 66.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,302 shares of the industrial products company's stock after selling 103,600 shares during the quarter. Prudential Financial Inc. owned 0.15% of Manitowoc worth $478,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. First Eagle Investment Management LLC raised its stake in shares of Manitowoc by 207.9% in the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after acquiring an additional 397,837 shares during the period. Hodges Capital Management Inc. grew its holdings in Manitowoc by 93.9% during the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company's stock valued at $4,242,000 after purchasing an additional 225,090 shares during the last quarter. State Street Corp raised its position in Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company's stock worth $8,197,000 after purchasing an additional 64,101 shares during the period. Jane Street Group LLC lifted its stake in Manitowoc by 103.0% in the third quarter. Jane Street Group LLC now owns 81,647 shares of the industrial products company's stock worth $785,000 after purchasing an additional 41,427 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of Manitowoc by 103.1% during the fourth quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company's stock valued at $726,000 after buying an additional 40,333 shares during the period. Institutional investors own 78.66% of the company's stock.

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Wall Street Analyst Weigh In

Separately, UBS Group decreased their price target on Manitowoc from $13.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $10.66.

Manitowoc Trading Up 0.6 %

Shares of Manitowoc stock traded up $0.04 on Friday, hitting $7.64. 202,983 shares of the company traded hands, compared to its average volume of 283,425. The Manitowoc Company, Inc. has a 52 week low of $7.06 and a 52 week high of $13.87. The company has a market cap of $268.56 million, a PE ratio of 4.93 and a beta of 1.79. The stock's 50 day moving average price is $9.55 and its 200-day moving average price is $9.65. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. Equities research analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

About Manitowoc

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.