Allspring Global Investments Holdings LLC Lowers Stake in The Manitowoc Company, Inc. (NYSE:MTW)

Allspring Global Investments Holdings LLC lowered its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,064 shares of the industrial products company’s stock after selling 1,075 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Manitowoc were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTW. Swiss National Bank increased its position in Manitowoc by 1.7% during the 3rd quarter. Swiss National Bank now owns 77,250 shares of the industrial products company’s stock valued at $1,163,000 after buying an additional 1,300 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Manitowoc by 3.8% during the third quarter. AQR Capital Management LLC now owns 351,371 shares of the industrial products company’s stock valued at $5,288,000 after acquiring an additional 12,958 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Manitowoc by 1,292.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock valued at $8,625,000 after acquiring an additional 479,662 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Manitowoc by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after purchasing an additional 79,213 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Manitowoc by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 19,859 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 3,937 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Manitowoc Trading Up 1.3 %

Shares of MTW stock opened at $12.81 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. The Manitowoc Company, Inc. has a 12-month low of $12.20 and a 12-month high of $19.81. The stock has a market capitalization of $454.50 million, a P/E ratio of 11.75 and a beta of 2.04. The firm’s 50 day moving average is $13.39 and its 200 day moving average is $14.52.

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. Research analysts expect that The Manitowoc Company, Inc. will post 1.31 earnings per share for the current year.

Manitowoc 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.