Rutabaga Capital Management LLC MA Reduces Stake in Manitowoc Company, Inc. (The) (MTW)

Rutabaga Capital Management LLC MA decreased its stake in shares of Manitowoc Company, Inc. (The) (NYSE:MTW) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,053,104 shares of the industrial products company’s stock after selling 343,600 shares during the quarter. Manitowoc Company, Inc. (The) accounts for about 3.4% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 7th biggest position. Rutabaga Capital Management LLC MA owned about 2.17% of Manitowoc Company, Inc. (The) worth $18,349,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MTW. Annex Advisory Services LLC increased its holdings in shares of Manitowoc Company, Inc. (The) by 22.3% during the 2nd quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 3,158 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Manitowoc Company, Inc. (The) by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 16,065 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Manitowoc Company, Inc. (The) by 704.5% during the 1st quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 20,056 shares during the period. Leavell Investment Management Inc. increased its holdings in shares of Manitowoc Company, Inc. (The) by 9.4% during the 2nd quarter. Leavell Investment Management Inc. now owns 23,405 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 2,019 shares during the period. Finally, Advisor Group Inc. increased its holdings in shares of Manitowoc Company, Inc. (The) by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 572 shares during the period. Institutional investors own 80.98% of the company’s stock.

MTW has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and set a $10.50 price objective on shares of Manitowoc Company, Inc. (The) in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Manitowoc Company, Inc. (The) from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird upgraded shares of Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $6.00 to $10.00 in a report on Wednesday, August 2nd. Deutsche Bank AG boosted their price objective on shares of Manitowoc Company, Inc. (The) from $5.81 to $7.85 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, Credit Suisse Group boosted their price objective on shares of Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.01.

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Shares of Manitowoc Company, Inc. (NYSE:MTW) traded down 1.19% during mid-day trading on Friday, hitting $9.16. 292,812 shares of the stock traded hands. The company’s 50 day moving average is $8.48 and its 200 day moving average is $6.70. The firm’s market capitalization is $1.29 billion. Manitowoc Company, Inc. has a one year low of $3.65 and a one year high of $9.97.

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The business had revenue of $394.60 million for the quarter, compared to analyst estimates of $396.44 million. During the same period last year, the firm earned $0.03 earnings per share. Manitowoc Company, Inc. (The)’s revenue for the quarter was down 13.8% compared to the same quarter last year. On average, equities analysts expect that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

Manitowoc Company, Inc. (The) Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Institutional Ownership by Quarter for Manitowoc Company, Inc. (The) (NYSE:MTW)

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