Assenagon Asset Management S.A. Sells 7,769 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Assenagon Asset Management S.A. decreased its holdings in The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,174 shares of the industrial products company’s stock after selling 7,769 shares during the period. Assenagon Asset Management S.A. owned about 0.44% of Manitowoc worth $1,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Manitowoc in the 2nd quarter worth $32,000. SeaCrest Wealth Management LLC bought a new stake in shares of Manitowoc in the 2nd quarter worth $43,000. US Bancorp DE increased its holdings in shares of Manitowoc by 43.6% in the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,146 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Manitowoc in the 1st quarter worth $62,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Manitowoc in the 2nd quarter worth $110,000. Institutional investors own 74.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MTW. StockNews.com assumed coverage on Manitowoc in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Stifel Nicolaus lifted their price objective on Manitowoc from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, December 19th. Credit Suisse Group cut their price objective on Manitowoc from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, November 9th. Wells Fargo & Company cut their price objective on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Monday, October 24th. Finally, The Goldman Sachs Group cut their price objective on Manitowoc from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.69.

Manitowoc Price Performance

NYSE MTW opened at $11.70 on Friday. The company has a market capitalization of $411.72 million, a PE ratio of 24.38 and a beta of 2.05. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.56 and a current ratio of 1.82. The business’s fifty day moving average is $9.71 and its 200 day moving average is $9.70. The Manitowoc Company, Inc. has a fifty-two week low of $7.53 and a fifty-two week high of $19.54.

Manitowoc (NYSE:MTW – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The industrial products company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Manitowoc had a return on equity of 3.25% and a net margin of 0.89%. The business had revenue of $454.70 million for the quarter, compared to the consensus estimate of $493.68 million. During the same period in the previous year, the business earned $0.06 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Sell-side analysts predict that The Manitowoc Company, Inc. will post 0.54 earnings per share for the current year.

Manitowoc Profile

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The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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.