LSV Asset Management Sells 89,700 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

LSV Asset Management reduced its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 69.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 40,000 shares of the industrial products company’s stock after selling 89,700 shares during the period. LSV Asset Management owned approximately 0.11% of Manitowoc worth $365,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. First Eagle Investment Management LLC raised its holdings in shares of Manitowoc by 207.9% during the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock worth $5,379,000 after acquiring an additional 397,837 shares during the period. Hodges Capital Management Inc. lifted its holdings in shares of Manitowoc by 93.9% in the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after purchasing an additional 225,090 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Manitowoc by 84.5% during the fourth quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company’s stock worth $2,088,000 after buying an additional 104,709 shares during the period. State Street Corp grew its holdings in shares of Manitowoc by 8.1% during the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after buying an additional 64,101 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Manitowoc in the 4th quarter valued at approximately $497,000. Institutional investors own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price target on Manitowoc from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.66.

Manitowoc Price Performance

Shares of NYSE MTW opened at $7.52 on Wednesday. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.46. The stock has a market capitalization of $266.56 million, a price-to-earnings ratio of 4.85 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The business has a 50-day moving average of $9.46 and a 200-day moving average of $9.62.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. As a group, sell-side analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal 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.