Susquehanna Portfolio Strategies LLC Has $424,000 Stake in The Manitowoc Company, Inc. (NYSE:MTW)

Susquehanna Portfolio Strategies LLC reduced its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 44.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,953 shares of the industrial products company’s stock after selling 24,374 shares during the period. Susquehanna Portfolio Strategies LLC owned approximately 0.08% of Manitowoc worth $424,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MTW. Assenagon Asset Management S.A. boosted its position in shares of Manitowoc by 1,292.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock worth $8,625,000 after purchasing an additional 479,662 shares during the last quarter. Federated Hermes Inc. lifted its stake in Manitowoc by 44.4% in the fourth quarter. Federated Hermes Inc. now owns 386,958 shares of the industrial products company’s stock valued at $6,458,000 after buying an additional 119,074 shares during the period. Vanguard Group Inc. boosted its holdings in Manitowoc by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after buying an additional 79,213 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Manitowoc during the 4th quarter worth about $775,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Manitowoc by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 773,565 shares of the industrial products company’s stock valued at $12,911,000 after acquiring an additional 46,417 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Shares of MTW traded up $0.27 during trading hours on Monday, hitting $11.27. The company had a trading volume of 37,301 shares, compared to its average volume of 265,066. The firm has a market cap of $400.54 million, a price-to-earnings ratio of 14.67 and a beta of 1.91. The company has a quick ratio of 0.59, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $11.60 and a 200-day moving average of $13.43. The Manitowoc Company, Inc. has a 12 month low of $10.01 and a 12 month high of $19.67.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The company had revenue of $495.10 million during the quarter, compared to the consensus estimate of $496.93 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. Equities analysts anticipate that The Manitowoc Company, Inc. will post 1.25 EPS for the current fiscal year.

Analyst Ratings Changes

MTW has been the topic of a number of recent analyst reports. UBS Group reduced their price target on shares of Manitowoc from $18.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, June 12th. StockNews.com cut Manitowoc from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Manitowoc from $14.00 to $12.50 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group cut their price objective on Manitowoc from $15.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday. Finally, Barclays lowered their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Manitowoc presently has an average rating of “Hold” and an average price target of $15.75.

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.