Ladenburg Thalmann Financial Services Inc. decreased its stake in shares of The Manitowoc Company (NYSE:MTW) by 76.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,572 shares of the industrial products company’s stock after selling 8,298 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in The Manitowoc were worth $101,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of The Manitowoc by 343.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock valued at $1,200,000 after acquiring an additional 103,289 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of The Manitowoc by 2.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock valued at $5,224,000 after acquiring an additional 12,221 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of The Manitowoc during the 4th quarter valued at about $9,247,000. Hennessy Advisors Inc. acquired a new position in shares of The Manitowoc during the 4th quarter valued at about $29,631,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of The Manitowoc during the 3rd quarter valued at about $308,000. 79.14% of the stock is currently owned by institutional investors and hedge funds.
MTW opened at $28.90 on Tuesday. The company has a market capitalization of $993.96, a price-to-earnings ratio of -111.15 and a beta of 1.54. The company has a current ratio of 1.76, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39. The Manitowoc Company has a 12-month low of $21.20 and a 12-month high of $44.03.
In other The Manitowoc news, SVP Thomas G. Musial sold 3,327 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $27.92, for a total value of $92,889.84. Following the completion of the sale, the senior vice president now owns 50,965 shares in the company, valued at approximately $1,422,942.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Antoniuk acquired 7,000 shares of The Manitowoc stock in a transaction on Tuesday, March 13th. The stock was purchased at an average price of $30.33 per share, with a total value of $212,310.00. Following the transaction, the chief financial officer now directly owns 31,886 shares in the company, valued at approximately $967,102.38. The disclosure for this purchase can be found here. Insiders sold a total of 9,179 shares of company stock worth $288,486 in the last ninety days. Insiders own 1.40% of the company’s stock.
A number of brokerages have recently commented on MTW. Zacks Investment Research lowered The Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. SunTrust Banks increased their price objective on The Manitowoc to $37.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Stifel Nicolaus lowered their price objective on The Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, February 12th. JPMorgan Chase lowered The Manitowoc from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $30.00 to $29.00 in a report on Monday, February 12th. Finally, Credit Suisse Group increased their price objective on The Manitowoc from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The Manitowoc has a consensus rating of “Hold” and a consensus price target of $38.38.
The Manitowoc Profile
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks the National Crane brand.
Want to see what other hedge funds are holding MTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Manitowoc Company (NYSE:MTW).
Receive News & Ratings for The Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.