Ameriprise Financial Inc. Sells 29,041 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Ameriprise Financial Inc. reduced its position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

Other hedge funds also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its holdings in shares of Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after acquiring an additional 397,837 shares during the last quarter. Front Street Capital Management Inc. increased its holdings in shares of Manitowoc by 7.8% during the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company's stock valued at $30,764,000 after acquiring an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Manitowoc by 61.9% during the 4th quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company's stock valued at $5,558,000 after acquiring an additional 232,744 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Manitowoc by 93.9% during the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company's stock valued at $4,242,000 after acquiring an additional 225,090 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Manitowoc by 84.5% during the 4th quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company's stock valued at $2,088,000 after acquiring an additional 104,709 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Stock Performance

NYSE:MTW traded up $0.14 during mid-day trading on Friday, hitting $10.98. 142,092 shares of the company's stock traded hands, compared to its average volume of 291,951. The firm has a 50 day moving average of $9.18 and a two-hundred day moving average of $9.55. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.46. The firm has a market capitalization of $389.27 million, a price-to-earnings ratio of 7.09 and a beta of 2.02. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share 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 business had revenue of $470.90 million for the quarter, compared to the consensus estimate of $479.39 million. During the same quarter in the previous year, the company earned $0.14 EPS. Manitowoc's revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Aaron H. Ravenscroft acquired 3,000 shares of Manitowoc stock in a transaction on 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 transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MTW shares. Robert W. Baird lowered their price objective on Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. UBS Group increased their target price on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $10.86.

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.