Federated Hermes Inc. Grows Stake in The Manitowoc Company, Inc. (NYSE:MTW)

Federated Hermes Inc. grew its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 44.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 386,958 shares of the industrial products company’s stock after buying an additional 119,074 shares during the quarter. Federated Hermes Inc. owned approximately 1.10% of Manitowoc worth $6,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MTW. Allspring Global Investments Holdings LLC raised its position in shares of Manitowoc by 19.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 823 shares in the last quarter. Arizona State Retirement System bought a new position in shares of Manitowoc in the 3rd quarter worth approximately $151,000. Spire Wealth Management bought a new position in shares of Manitowoc in the 3rd quarter worth approximately $174,000. Commonwealth Equity Services LLC bought a new position in shares of Manitowoc in the 3rd quarter worth approximately $178,000. Finally, Perritt Capital Management Inc. raised its position in shares of Manitowoc by 50.0% in the 3rd quarter. Perritt Capital Management Inc. now owns 15,000 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Barclays cut their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut their target price on Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.83.

Manitowoc Stock Performance

MTW stock opened at $12.79 on Friday. The company has a market cap of $453.79 million, a P/E ratio of 11.73 and a beta of 2.04. The Manitowoc Company, Inc. has a 1 year low of $12.20 and a 1 year high of $19.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.83 and a quick ratio of 0.65. The stock’s fifty day moving average price is $13.41 and its 200-day moving average price is $14.54.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). The firm had revenue of $595.80 million during the quarter, compared to analysts’ expectations of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. On average, equities analysts forecast that The Manitowoc Company, Inc. will post 1.31 earnings per share for the current 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.