Alliancebernstein L.P. Trims Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

Alliancebernstein L.P. decreased its position in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,335 shares of the industrial products company’s stock after selling 4,195 shares during the quarter. Alliancebernstein L.P. owned approximately 0.08% of Manitowoc worth $250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTW. R Squared Ltd purchased a new stake in shares of Manitowoc during the fourth quarter worth approximately $66,000. Quantbot Technologies LP lifted its stake in shares of Manitowoc by 20.9% in the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 1,771 shares during the period. LPL Financial LLC boosted its holdings in shares of Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,030 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Manitowoc by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 1,944 shares during the period. Finally, Sei Investments Co. purchased a new position in Manitowoc during the fourth quarter worth about $217,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Stock Performance

MTW opened at $7.42 on Tuesday. The Manitowoc Company, Inc. has a 1-year low of $7.06 and a 1-year high of $13.46. The stock has a market cap of $262.98 million, a P/E ratio of 4.79 and a beta of 1.79. The stock’s 50 day simple moving average is $9.27 and its 200 day simple moving average is $9.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results 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, equities analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, UBS Group cut their target price 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 analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock currently 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.