Algert Global LLC Reduces Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Algert Global LLC trimmed its position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 68.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,250 shares of the industrial products company's stock after selling 57,340 shares during the quarter. Algert Global LLC owned about 0.07% of Manitowoc worth $240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new position in Manitowoc in the 4th quarter valued at about $228,000. Jane Street Group LLC boosted its holdings in Manitowoc by 88.4% in the 4th quarter. Jane Street Group LLC now owns 153,792 shares of the industrial products company's stock valued at $1,404,000 after purchasing an additional 72,145 shares during the last quarter. PDT Partners LLC acquired a new position in Manitowoc in the 4th quarter valued at about $252,000. Northern Trust Corp boosted its holdings in Manitowoc by 0.5% in the 4th quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock valued at $2,779,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new position in Manitowoc in the 4th quarter valued at about $148,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Manitowoc stock traded up $0.23 during trading hours on Thursday, reaching $11.54. 352,052 shares of the stock were exchanged, compared to its average volume of 292,344. The stock has a market cap of $409.01 million, a P/E ratio of 7.45 and a beta of 1.92. 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 Manitowoc Company, Inc. has a 52-week low of $7.06 and a 52-week high of $13.46. The firm's 50 day moving average is $8.68 and its 200 day moving average is $9.47.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The company had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. During the same quarter last year, the business earned $0.14 EPS. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. Analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at Manitowoc

In other Manitowoc news, CEO Aaron H. Ravenscroft bought 3,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the acquisition, the chief executive officer now owns 690,142 shares of the company's stock, valued at $5,990,432.56. The trade was a 0.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Manitowoc from $13.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Robert W. Baird dropped their price objective on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Manitowoc presently has a consensus rating of "Hold" and a consensus price target of $10.46.

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.