The Manitowoc Company, Inc. $MTW Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in The Manitowoc Company by 13.2%, selling 62,183 shares to hold approximately 409,732 shares valued at $3.52 million.
• Institutional investors now own 78.66% of Manitowoc, with significant increases in stakes from firms like GSA Capital Partners and Russell Investments.
• Analysts have mixed views on Manitowoc stock, with the consensus price target set at $11.00 and a mix of ratings including three "Hold" and one "Sell."

Jacobs Levy Equity Management Inc. cut its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 409,732 shares of the industrial products company's stock after selling 62,183 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.16% of Manitowoc worth $3,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Invesco Ltd. lifted its position in Manitowoc by 0.8% during the first quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company's stock valued at $10,159,000 after purchasing an additional 9,599 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Manitowoc by 35.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company's stock valued at $5,025,000 after acquiring an additional 144,390 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Manitowoc by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company's stock valued at $4,002,000 after acquiring an additional 64,983 shares during the period. Bridgeway Capital Management LLC raised its holdings in Manitowoc by 4.2% during the first quarter. Bridgeway Capital Management LLC now owns 320,140 shares of the industrial products company's stock valued at $2,750,000 after acquiring an additional 13,001 shares during the period. Finally, Northern Trust Corp raised its holdings in 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 acquiring an additional 1,552 shares during the period. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTW. Wall Street Zen raised Manitowoc from a "sell" rating to a "hold" rating in a report on Tuesday, September 9th. Barclays lifted their target price on Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. Finally, Robert W. Baird reduced their target price on Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $11.00.

Manitowoc Stock Up 2.0%

Shares of MTW traded up $0.20 during midday trading on Monday, hitting $10.41. 28,186 shares of the company's stock traded hands, compared to its average volume of 280,834. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.61. The firm's fifty day moving average is $11.27 and its 200-day moving average is $10.33. The company has a current ratio of 2.07, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $369.13 million, a price-to-earnings ratio of 8.28 and a beta of 2.17.

Manitowoc (NYSE:MTW - Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.12). Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $580.18 million. During the same period in the previous year, the company earned $0.25 earnings per share. Manitowoc's revenue was down 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate 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.