Fisher Asset Management LLC Raises Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Fisher Asset Management LLC boosted its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,640 shares of the industrial products company’s stock after buying an additional 9,388 shares during the period. Fisher Asset Management LLC’s holdings in Manitowoc were worth $1,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of MTW. Price T Rowe Associates Inc. MD lifted its stake in shares of Manitowoc by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock worth $563,000 after purchasing an additional 1,516 shares during the last quarter. Boston Partners lifted its position in shares of Manitowoc by 22.9% during the first quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after buying an additional 2,874 shares during the last quarter. CWM LLC boosted its holdings in shares of Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after buying an additional 1,482 shares in the last quarter. Strong Tower Advisory Services purchased a new position in shares of Manitowoc in the 2nd quarter worth approximately $173,000. Finally, TCW Group Inc. raised its stake in shares of Manitowoc by 65.4% during the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock worth $4,683,000 after acquiring an additional 160,601 shares in the last quarter. Institutional investors own 78.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MTW shares. Robert W. Baird cut their price target 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. JPMorgan Chase & Co. boosted their target price on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays reduced their target price on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. The Goldman Sachs Group lowered their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th. Finally, StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.47.

Manitowoc Price Performance

Manitowoc stock opened at $10.63 on Friday. The business’s 50-day simple moving average is $9.96 and its two-hundred day simple moving average is $10.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The company has a market cap of $373.40 million, a PE ratio of -39.37 and a beta of 1.84. The Manitowoc Company, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.65.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The business had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. During the same quarter last year, the company posted $0.22 EPS. Manitowoc’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that The Manitowoc Company, Inc. will post 0.46 EPS for the current year.

Manitowoc Company 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.