Price T Rowe Associates Inc. MD Has $375,000 Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Price T Rowe Associates Inc. MD cut its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 24.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,070 shares of the industrial products company’s stock after selling 13,489 shares during the period. Price T Rowe Associates Inc. MD owned about 0.12% of Manitowoc worth $375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Manitowoc during the fourth quarter worth $66,000. Quantbot Technologies LP increased its holdings in Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after buying an additional 1,771 shares during the last quarter. LPL Financial LLC increased its holdings in Manitowoc by 10.0% during the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after buying an additional 1,030 shares during the last quarter. SG Americas Securities LLC increased its holdings in 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 buying an additional 1,944 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Manitowoc during the fourth quarter worth $217,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Manitowoc

In other news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the acquisition, the chief executive officer now owns 690,142 shares of the company’s stock, valued at approximately $5,990,432.56. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.52% of the company’s stock.

Wall Street Analysts Forecast Growth

MTW has been the topic of several research reports. Robert W. Baird decreased their price objective on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. UBS Group decreased their price objective on shares of Manitowoc from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.46.

Manitowoc Stock Down 0.4%

Manitowoc stock opened at $11.34 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The Manitowoc Company, Inc. has a 52-week low of $7.06 and a 52-week high of $13.46. The firm has a 50 day moving average price of $8.68 and a two-hundred day moving average price of $9.47. The firm has a market cap of $401.92 million, a price-to-earnings ratio of 7.32 and a beta of 1.92.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $479.39 million. Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. Manitowoc’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. Equities analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current 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.