The Manitowoc Company, Inc. (NYSE:MTW) Stock Holdings Increased by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its position in The Manitowoc Company, Inc. (NYSE:MTW) by 4.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 436,606 shares of the industrial products company’s stock after buying an additional 18,181 shares during the period. Acadian Asset Management LLC’s holdings in Manitowoc were worth $6,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AJOVista LLC acquired a new position in shares of Manitowoc during the fourth quarter worth approximately $69,000. Inlet Private Wealth LLC acquired a new position in shares of Manitowoc during the first quarter worth approximately $141,000. Allspring Global Investments Holdings LLC lifted its position in Manitowoc by 183.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 7,441 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Manitowoc in the fourth quarter worth approximately $253,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Manitowoc in the first quarter worth approximately $245,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Up 4.9 %

Manitowoc stock traded up $0.56 during mid-day trading on Monday, hitting $11.99. 171,150 shares of the company’s stock were exchanged, compared to its average volume of 265,926. The company has a current ratio of 1.77, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63. The stock has a market cap of $426.14 million, a P/E ratio of 15.27 and a beta of 1.91. The Manitowoc Company, Inc. has a 1-year low of $10.01 and a 1-year high of $19.48. The stock has a 50 day moving average of $11.52 and a two-hundred day moving average of $13.26.

Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $0.14 EPS for the quarter, missing the consensus estimate 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 7.33% and a net margin of 1.23%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, analysts anticipate that The Manitowoc Company, Inc. will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTW. UBS Group cut their target price on Manitowoc from $18.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. StockNews.com downgraded Manitowoc from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Barclays cut their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, April 22nd. The Goldman Sachs Group cut their target price on Manitowoc from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. cut their price objective on Manitowoc from $14.00 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.75.

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.