Fisher Asset Management LLC Purchases 45,523 Shares of The Manitowoc Company, Inc. $MTW

Fisher Asset Management LLC lifted its position in The Manitowoc Company, Inc. (NYSE:MTW) by 38.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,163 shares of the industrial products company’s stock after buying an additional 45,523 shares during the period. Fisher Asset Management LLC owned approximately 0.46% of Manitowoc worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in Manitowoc by 0.8% in the first quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company’s stock valued at $10,159,000 after acquiring an additional 9,599 shares during the period. Geode Capital Management LLC increased its position in shares of Manitowoc by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 826,240 shares of the industrial products company’s stock valued at $9,934,000 after purchasing an additional 3,569 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Manitowoc by 4.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 818,823 shares of the industrial products company’s stock worth $9,842,000 after purchasing an additional 36,700 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Manitowoc by 16.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock worth $4,002,000 after buying an additional 64,983 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Manitowoc by 55.7% during the second quarter. Acadian Asset Management LLC now owns 389,510 shares of the industrial products company’s stock valued at $4,678,000 after buying an additional 139,423 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manitowoc in a report on Monday. Wells Fargo & Company assumed coverage on Manitowoc in a report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target for the company. Finally, Robert W. Baird reduced their price target on Manitowoc from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $10.25.

Manitowoc Stock Performance

NYSE MTW opened at $12.26 on Friday. The company has a quick ratio of 0.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.70. The Manitowoc Company, Inc. has a twelve month low of $7.06 and a twelve month high of $13.61. The business has a 50-day moving average price of $10.88 and a 200-day moving average price of $11.07. The firm has a market cap of $434.97 million, a price-to-earnings ratio of 7.71 and a beta of 1.92.

Manitowoc (NYSE:MTW) last issued its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. The business had revenue of $354.30 million for the quarter. As a group, equities research analysts predict that The Manitowoc Company, Inc. will post 0.5 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.