Vanguard Group Inc. Decreases Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Vanguard Group Inc. cut its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,094,854 shares of the industrial products company's stock after selling 226,889 shares during the period. Vanguard Group Inc. owned about 5.96% of Manitowoc worth $19,126,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MTW. LPL Financial LLC lifted its position in shares of Manitowoc by 10.0% during the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after buying an additional 1,030 shares in the last quarter. Sei Investments Co. purchased a new position in Manitowoc during the fourth quarter valued at approximately $217,000. Quantbot Technologies LP lifted its holdings in Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 1,771 shares in the last quarter. First Eagle Investment Management LLC boosted its position 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 worth $5,379,000 after purchasing an additional 397,837 shares during the period. Finally, Isthmus Partners LLC increased its stake in shares of Manitowoc by 2.1% in the fourth quarter. Isthmus Partners LLC now owns 186,512 shares of the industrial products company's stock worth $1,703,000 after purchasing an additional 3,898 shares in the last quarter. Institutional investors own 78.66% of the company's stock.

Manitowoc Price Performance

Shares of NYSE:MTW traded up $0.18 during midday trading on Tuesday, reaching $7.57. 328,673 shares of the company were exchanged, compared to its average volume of 286,540. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The stock has a market cap of $268.30 million, a PE ratio of 4.88 and a beta of 1.79. The business's fifty day moving average is $9.20 and its two-hundred day moving average is $9.55. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.46.

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

Analyst Ratings Changes

Separately, UBS Group cut 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 issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.66.

Manitowoc Company 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.