Fisher Asset Management LLC Sells 8,199 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Fisher Asset Management LLC decreased its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,403 shares of the industrial products company’s stock after selling 8,199 shares during the period. Fisher Asset Management LLC owned about 0.35% of Manitowoc worth $2,076,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MTW. Allspring Global Investments Holdings LLC increased its holdings in 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 buying an additional 823 shares in the last quarter. Swiss National Bank raised its holdings in shares of Manitowoc by 1.7% during the third quarter. Swiss National Bank now owns 77,250 shares of the industrial products company’s stock valued at $1,163,000 after purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Manitowoc by 8.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,447 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 1,928 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Manitowoc by 6.1% in the third quarter. Avantax Advisory Services Inc. now owns 35,810 shares of the industrial products company’s stock worth $539,000 after purchasing an additional 2,071 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Manitowoc by 4.1% in the 3rd quarter. Deutsche Bank AG now owns 58,870 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Down 1.6 %

MTW stock opened at $12.43 on Thursday. The business’s 50-day moving average price is $13.25 and its 200-day moving average price is $14.45. The stock has a market cap of $440.89 million, a P/E ratio of 11.40 and a beta of 2.05. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. The Manitowoc Company, Inc. has a twelve month low of $11.16 and a twelve month high of $19.81.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The firm had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $496.93 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. Manitowoc’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. On average, equities research analysts forecast that The Manitowoc Company, Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

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

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.