The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,461 shares of the industrial products company's stock after selling 29,041 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Manitowoc worth $771,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Ancora Advisors LLC purchased a new stake in Manitowoc during the 4th quarter worth approximately $228,000. Jane Street Group LLC increased its position in shares of 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 purchased a new stake in shares of Manitowoc in the 4th quarter valued at approximately $252,000. Northern Trust Corp increased its position in shares of 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 purchased a new stake in shares of Manitowoc in the 4th quarter valued at approximately $148,000. 78.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages have commented on MTW. 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. UBS Group increased their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, Manitowoc currently has a consensus rating of "Hold" and an average price target of $10.86.

Manitowoc Stock Down 0.3%

Shares of NYSE MTW traded down $0.03 during mid-day trading on Wednesday, reaching $10.75. The company had a trading volume of 133,144 shares, compared to its average volume of 292,081. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $9.05 and a two-hundred day simple moving average of $9.53. The stock has a market cap of $381.01 million, a P/E ratio of 6.94 and a beta of 1.92. The Manitowoc Company, Inc. has a 52-week low of $7.06 and a 52-week high of $13.46.

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

Manitowoc 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.