Public Employees Retirement System of Ohio Decreases Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

Public Employees Retirement System of Ohio trimmed its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,521 shares of the industrial products company’s stock after selling 1,295 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.12% of Manitowoc worth $409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hodges Capital Management Inc. purchased a new stake in shares of Manitowoc during the 3rd quarter valued at about $2,305,000. Jane Street Group LLC grew its position in Manitowoc by 103.0% in the 3rd quarter. Jane Street Group LLC now owns 81,647 shares of the industrial products company’s stock worth $785,000 after purchasing an additional 41,427 shares during the period. State Street Corp grew its position in Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after purchasing an additional 64,101 shares during the period. Quadrature Capital Ltd purchased a new stake in Manitowoc during the 3rd quarter valued at $148,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Manitowoc by 94.7% during the 3rd quarter. Quantbot Technologies LP now owns 8,486 shares of the industrial products company’s stock valued at $82,000 after buying an additional 4,128 shares during the period. Institutional investors own 78.66% of the company’s stock.

Manitowoc Trading Down 1.6 %

Shares of NYSE:MTW opened at $8.63 on Friday. The Manitowoc Company, Inc. has a 12-month low of $8.50 and a 12-month high of $17.65. The company has a market cap of $303.15 million, a PE ratio of -31.96 and a beta of 1.83. The stock has a 50 day moving average of $10.11 and a 200 day moving average of $10.37. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The firm had revenue of $524.80 million for the quarter, compared to the consensus estimate of $516.49 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts expect that The Manitowoc Company, Inc. will post 0.46 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on MTW. StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Robert W. Baird dropped their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.47.

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.