Manitowoc Company, Inc. (The) (MTW) Position Trimmed by Investec Asset Management LTD

Investec Asset Management LTD reduced its position in Manitowoc Company, Inc. (The) (NYSE:MTW) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,215,404 shares of the industrial products company’s stock after selling 895,629 shares during the quarter. Investec Asset Management LTD owned 3.00% of Manitowoc Company, Inc. (The) worth $25,335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTW. Teachers Advisors LLC raised its position in Manitowoc Company, Inc. (The) by 37.9% in the 4th quarter. Teachers Advisors LLC now owns 360,325 shares of the industrial products company’s stock worth $2,155,000 after purchasing an additional 99,052 shares during the period. Nationwide Fund Advisors grew its stake in Manitowoc Company, Inc. (The) by 1.7% in the 1st quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 1,783 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Manitowoc Company, Inc. (The) by 61.5% in the 1st quarter. Russell Investments Group Ltd. now owns 482,109 shares of the industrial products company’s stock worth $2,749,000 after acquiring an additional 183,534 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Manitowoc Company, Inc. (The) by 96.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 196,800 shares of the industrial products company’s stock worth $1,122,000 after acquiring an additional 96,600 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Manitowoc Company, Inc. (The) by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after acquiring an additional 45,461 shares in the last quarter. 80.98% of the stock is currently owned by institutional investors.

Manitowoc Company, Inc. (MTW) traded down 1.00% on Tuesday, hitting $7.90. 344,204 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $7.71 and its 200-day moving average price is $6.32. Manitowoc Company, Inc. has a 12-month low of $3.65 and a 12-month high of $8.43. The company’s market cap is $1.11 billion.

Manitowoc Company, Inc. (The) (NYSE:MTW) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The business had revenue of $394.60 million during the quarter, compared to analysts’ expectations of $396.44 million. During the same quarter in the prior year, the business posted $0.03 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. Analysts forecast that Manitowoc Company, Inc. will post ($0.14) earnings per share for the current year.

A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. UBS AG restated a “neutral” rating and issued a $8.00 target price (up from $6.00) on shares of Manitowoc Company, Inc. (The) in a research note on Thursday, August 10th. TheStreet upgraded shares of Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Robert W. Baird upgraded shares of Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $6.00 to $10.00 in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $9.50 price objective (up from $8.00) on shares of Manitowoc Company, Inc. (The) in a research note on Wednesday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Manitowoc Company, Inc. (The) has a consensus rating of “Hold” and a consensus target price of $7.35.

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Manitowoc Company, Inc. (The) Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

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Institutional Ownership by Quarter for Manitowoc Company, Inc. (The) (NYSE:MTW)

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