Strs Ohio Sells 2,600 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Strs Ohio lowered its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,900 shares of the industrial products company’s stock after selling 2,600 shares during the quarter. Strs Ohio owned approximately 0.11% of Manitowoc worth $649,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MTW. Allspring Global Investments Holdings LLC boosted its position in Manitowoc by 19.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 823 shares during the period. Arizona State Retirement System bought a new position in Manitowoc during the third quarter worth about $151,000. Spire Wealth Management bought a new position in Manitowoc during the third quarter worth about $174,000. Commonwealth Equity Services LLC bought a new position in Manitowoc during the third quarter worth about $178,000. Finally, Perritt Capital Management Inc. boosted its position in Manitowoc by 50.0% during the third quarter. Perritt Capital Management Inc. now owns 15,000 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 78.66% of the company’s stock.

Analysts Set New Price Targets

MTW has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Barclays lowered their price target on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a report on Monday, April 22nd. StockNews.com downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Manitowoc presently has a consensus rating of “Hold” and a consensus price target of $16.83.

Manitowoc Trading Down 1.3 %

Shares of MTW opened at $12.62 on Friday. The firm’s 50 day simple moving average is $13.40 and its 200 day simple moving average is $14.53. The company has a market capitalization of $447.76 million, a P/E ratio of 11.58 and a beta of 2.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.83 and a quick ratio of 0.65. The Manitowoc Company, Inc. has a 1-year low of $12.20 and a 1-year high of $19.81.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). The company had revenue of $595.80 million during the quarter, compared to analysts’ expectations of $583.90 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Sell-side analysts forecast that The Manitowoc Company, Inc. will post 1.31 earnings per share for the current fiscal year.

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.