Rutabaga Capital Management LLC MA decreased its stake in Manitowoc Company Inc (NYSE:MTW) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 630,284 shares of the industrial products company’s stock after selling 31,140 shares during the period. Manitowoc accounts for 3.5% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 11th largest holding. Rutabaga Capital Management LLC MA’s holdings in Manitowoc were worth $15,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quantum Capital Management purchased a new stake in shares of Manitowoc during the third quarter valued at approximately $207,000. Prudential Financial Inc. purchased a new stake in shares of Manitowoc during the third quarter valued at approximately $998,000. Gamco Investors INC. ET AL purchased a new stake in shares of Manitowoc during the third quarter valued at approximately $256,000. Wells Fargo & Company MN raised its stake in shares of Manitowoc by 5.2% during the third quarter. Wells Fargo & Company MN now owns 63,518 shares of the industrial products company’s stock valued at $1,525,000 after purchasing an additional 3,111 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Manitowoc by 72.3% during the third quarter. Victory Capital Management Inc. now owns 1,667,174 shares of the industrial products company’s stock valued at $39,996,000 after purchasing an additional 699,680 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

A number of analysts have recently issued reports on MTW shares. ValuEngine lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Seaport Global Securities set a $31.00 price objective on shares of Manitowoc and gave the company a “buy” rating in a research note on Wednesday, August 8th. Citigroup dropped their price objective on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 8th. Macquarie lifted their price target on shares of Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $33.00 price target on shares of Manitowoc in a research note on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Manitowoc has a consensus rating of “Hold” and a consensus price target of $30.50.

Shares of NYSE:MTW opened at $17.87 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.75 and a quick ratio of 0.69. The firm has a market capitalization of $680.76 million, a P/E ratio of -68.73 and a beta of 1.62. Manitowoc Company Inc has a 12-month low of $16.74 and a 12-month high of $44.03.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $450.10 million during the quarter, compared to analyst estimates of $452.64 million. Manitowoc had a net margin of 2.56% and a return on equity of 1.80%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Equities research analysts predict that Manitowoc Company Inc will post 0.56 earnings per share for the current year.

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Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for Manitowoc (NYSE:MTW)

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