Acadian Asset Management LLC Raises Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Acadian Asset Management LLC increased its position in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 436,606 shares of the industrial products company’s stock after purchasing an additional 18,181 shares during the quarter. Acadian Asset Management LLC owned approximately 1.23% of Manitowoc worth $6,172,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. AJOVista LLC acquired a new position in Manitowoc during the fourth quarter worth $69,000. Inlet Private Wealth LLC acquired a new position in Manitowoc during the first quarter worth $141,000. Allspring Global Investments Holdings LLC boosted its stake in Manitowoc by 183.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company’s stock worth $163,000 after buying an additional 7,441 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Manitowoc during the first quarter worth $245,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Manitowoc during the fourth quarter worth $253,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MTW. JPMorgan Chase & Co. lowered their price objective on Manitowoc from $14.00 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group decreased their price target on Manitowoc from $15.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th. UBS Group decreased their price target on Manitowoc from $18.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, June 12th. Barclays decreased their price target on Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, April 22nd. Finally, StockNews.com downgraded Manitowoc from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.75.

Manitowoc Stock Up 4.9 %

Shares of MTW traded up $0.56 during mid-day trading on Monday, reaching $11.99. The company’s stock had a trading volume of 171,150 shares, compared to its average volume of 265,926. The Manitowoc Company, Inc. has a 12-month low of $10.01 and a 12-month high of $19.48. The stock has a market cap of $426.14 million, a PE ratio of 15.27 and a beta of 1.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 0.59. The company’s 50 day moving average is $11.52 and its 200 day moving average is $13.26.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The business had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $496.93 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. Equities analysts anticipate that The Manitowoc Company, Inc. will post 1.27 EPS for the current fiscal year.

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.