Tectonic Advisors LLC Reduces Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

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

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Isthmus Partners LLC raised its stake in Manitowoc by 3.8% during the 1st quarter. Isthmus Partners LLC now owns 193,640 shares of the industrial products company's stock worth $1,663,000 after acquiring an additional 7,128 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Manitowoc by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 76,640 shares of the industrial products company's stock worth $658,000 after buying an additional 1,440 shares in the last quarter. Strong Tower Advisory Services boosted its holdings in Manitowoc by 111.0% during the first quarter. Strong Tower Advisory Services now owns 82,373 shares of the industrial products company's stock worth $708,000 after buying an additional 43,332 shares in the last quarter. GAMMA Investing LLC raised its position in Manitowoc by 3,309.6% during the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock worth $104,000 after acquiring an additional 11,782 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Manitowoc in the fourth quarter valued at approximately $181,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Manitowoc stock traded down $0.33 during mid-day trading on Friday, hitting $12.31. 235,819 shares of the company's stock traded hands, compared to its average volume of 283,199. 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 stock has a market cap of $436.27 million, a price-to-earnings ratio of 9.85 and a beta of 2.03. The firm has a 50 day simple moving average of $11.66 and a two-hundred day simple moving average of $10.04. The Manitowoc Company, Inc. has a fifty-two week low of $7.06 and a fifty-two week high of $13.62.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings data 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 2.09% and a return on equity of 0.63%. The business had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. During the same period last year, the business earned $0.14 earnings per share. The business's quarterly revenue was down 4.9% compared to the same quarter last year. On average, research analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at Manitowoc

In related news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were 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 in the company, valued at approximately $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTW has been the subject of several research reports. Robert W. Baird decreased their price objective on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. UBS Group increased their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.