Barclays PLC Sells 5,771 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Barclays PLC cut its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 6.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,896 shares of the industrial products company’s stock after selling 5,771 shares during the quarter. Barclays PLC’s holdings in Manitowoc were worth $769,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hodges Capital Management Inc. bought a new position in shares of Manitowoc in the third quarter valued at about $2,305,000. Front Street Capital Management Inc. raised its holdings in shares of Manitowoc by 8.4% in the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock valued at $32,361,000 after buying an additional 217,389 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Manitowoc in the second quarter valued at about $2,385,000. AQR Capital Management LLC raised its holdings in shares of Manitowoc by 31.1% in the second quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock valued at $6,810,000 after buying an additional 140,042 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Manitowoc by 33.6% in the second quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock valued at $3,028,000 after buying an additional 66,013 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Manitowoc Price Performance

Shares of MTW stock opened at $9.18 on Thursday. The stock has a 50-day moving average price of $9.78 and a 200 day moving average price of $10.05. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The firm has a market cap of $322.47 million, a price-to-earnings ratio of -34.00 and a beta of 1.84. The Manitowoc Company, Inc. has a 12 month low of $8.30 and a 12 month high of $17.65.

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 analysts’ consensus estimates of $0.06 by ($0.14). The firm had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. Manitowoc’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. Research analysts expect that The Manitowoc Company, Inc. will post 0.46 EPS 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.