The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its position in The Manitowoc Company, Inc. (NYSE:MTW) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,403 shares of the industrial products company’s stock after selling 8,199 shares during the period. Fisher Asset Management LLC’s holdings in Manitowoc were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Manitowoc by 1,292.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock valued at $8,625,000 after purchasing an additional 479,662 shares during the last quarter. Federated Hermes Inc. grew its holdings in Manitowoc by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 386,958 shares of the industrial products company’s stock valued at $6,458,000 after buying an additional 119,074 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Manitowoc by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after acquiring an additional 79,213 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Manitowoc by 53.4% during the 3rd quarter. GSA Capital Partners LLP now owns 158,872 shares of the industrial products company’s stock worth $2,391,000 after acquiring an additional 55,310 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Manitowoc during the 3rd quarter worth $798,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Manitowoc Stock Performance

Shares of Manitowoc stock opened at $12.43 on Thursday. The stock has a market capitalization of $440.89 million, a price-to-earnings ratio of 11.40 and a beta of 2.05. 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 business has a 50-day moving average of $13.25 and a 200 day moving average of $14.45. The Manitowoc Company, Inc. has a 12 month low of $11.16 and a 12 month high of $19.81.

Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The business had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. Manitowoc’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. As a group, sell-side analysts forecast that The Manitowoc Company, Inc. will post 1.31 earnings per share for the current year.

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.