The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 20.9% during the fourth quarter, HoldingsChannel reports. The firm owned 4,064 shares of the industrial products company’s stock after selling 1,075 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Manitowoc were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Manitowoc by 1,292.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock worth $8,625,000 after acquiring an additional 479,662 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Manitowoc by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after purchasing an additional 79,213 shares during the period. GSA Capital Partners LLP boosted its position in Manitowoc by 53.4% in the third quarter. GSA Capital Partners LLP now owns 158,872 shares of the industrial products company’s stock valued at $2,391,000 after buying an additional 55,310 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Manitowoc in the 3rd quarter worth approximately $798,000. Finally, Caxton Associates LP purchased a new position in Manitowoc during the 3rd quarter worth approximately $638,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MTW. Barclays cut their price objective on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company decreased their price objective on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. StockNews.com lowered Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company 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 data from MarketBeat.com, Manitowoc presently has a consensus rating of “Hold” and an average target price of $16.83.

Manitowoc Stock Performance

NYSE MTW opened at $12.81 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. The Manitowoc Company, Inc. has a twelve month low of $12.20 and a twelve month high of $19.81. The stock has a 50-day moving average of $13.39 and a 200 day moving average of $14.52. The stock has a market capitalization of $454.50 million, a price-to-earnings ratio of 11.75 and a beta of 2.04.

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 the consensus estimate of $0.23 by ($0.14). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The business had revenue of $595.80 million for the quarter, compared to analyst estimates of $583.90 million. During the same period in the previous year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Sell-side analysts anticipate that The Manitowoc Company, Inc. will post 1.31 EPS for the current fiscal 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.