AJOVista LLC Makes New $69,000 Investment in The Manitowoc Company, Inc. (NYSE:MTW)

AJOVista LLC acquired a new position in The Manitowoc Company, Inc. (NYSE:MTW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,152 shares of the industrial products company’s stock, valued at approximately $69,000.

A number of other large investors also recently bought and sold shares of the business. LSV Asset Management boosted its stake in shares of Manitowoc by 30.4% during the 4th quarter. LSV Asset Management now owns 129,700 shares of the industrial products company’s stock worth $2,165,000 after acquiring an additional 30,200 shares during the last quarter. Summit Global Investments raised its stake in Manitowoc by 23.8% during the fourth quarter. Summit Global Investments now owns 42,032 shares of the industrial products company’s stock valued at $702,000 after purchasing an additional 8,089 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Manitowoc by 9.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 139,975 shares of the industrial products company’s stock valued at $2,336,000 after acquiring an additional 12,230 shares during the last quarter. New York State Common Retirement Fund increased its position in Manitowoc by 18.1% during the fourth quarter. New York State Common Retirement Fund now owns 17,657 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 2,702 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Manitowoc by 44.4% during the 4th quarter. Federated Hermes Inc. now owns 386,958 shares of the industrial products company’s stock valued at $6,458,000 after purchasing an additional 119,074 shares during the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. cut their price target on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Barclays reduced their target price on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a report on Monday, April 22nd. Finally, StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Manitowoc currently has an average rating of “Hold” and an average target price of $16.83.

Manitowoc Price Performance

Shares of MTW traded down $0.04 during mid-day trading on Friday, hitting $12.43. 192,380 shares of the company were exchanged, compared to its average volume of 198,667. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83. The Manitowoc Company, Inc. has a 1-year low of $11.73 and a 1-year high of $19.81. The stock has a market cap of $441.02 million, a price-to-earnings ratio of 11.40 and a beta of 2.05. The company has a 50 day moving average of $13.30 and a 200-day moving average of $14.46.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.14). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The business had revenue of $595.80 million during the quarter, compared to analysts’ expectations of $583.90 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. Analysts expect that The Manitowoc Company, Inc. will post 1.31 EPS for the current fiscal year.

About Manitowoc

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.