The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC lessened its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 66.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,548 shares of the industrial products company's stock after selling 52,917 shares during the period. Tectonic Advisors LLC owned 0.07% of Manitowoc worth $228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. LPL Financial LLC lifted its holdings in shares of Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 1,030 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Manitowoc by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 76,640 shares of the industrial products company's stock valued at $658,000 after buying an additional 1,440 shares during the period. Northern Trust Corp lifted its stake in shares of Manitowoc by 0.5% during the fourth quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock valued at $2,779,000 after buying an additional 1,552 shares during the period. Quantbot Technologies LP lifted its stake in shares of Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock valued at $94,000 after buying an additional 1,771 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Manitowoc during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 78.66% of the company's stock.

Insider Buying and Selling

In other Manitowoc news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $8.68 per share, with a total value of $26,040.00. Following the completion of the transaction, the chief executive officer directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.52% of the company's stock.

Wall Street Analyst Weigh In

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

Manitowoc Trading Down 2.6%

MTW stock traded down $0.33 on Friday, hitting $12.31. 235,819 shares of the company were exchanged, compared to its average volume of 271,922. The Manitowoc Company, Inc. has a twelve month low of $7.06 and a twelve month high of $13.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 0.64. The business's fifty day moving average is $11.62 and its two-hundred day moving average is $10.01. The stock has a market capitalization of $436.27 million, a price-to-earnings ratio of 9.85 and a beta of 2.03.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results 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 return on equity of 0.63% and a net margin of 2.09%. The company had revenue of $470.90 million for the quarter, compared to analyst estimates of $479.39 million. During the same period last year, the company posted $0.14 EPS. The business's revenue for the quarter was down 4.9% on a year-over-year basis. As a group, research analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Manitowoc Company 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.