The Manitowoc Company, Inc. $MTW Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC decreased its stake in The Manitowoc Company by 11.4%, holding 472,680 shares worth $4.06 million as of the latest SEC filing.
• Wall Street analysts have mixed views on Manitowoc, with the stock receiving a "hold" upgrade from Wall Street Zen, while Barclays set a new underweight rating with a revised price target of $11.00.
• Manitowoc recently reported a net loss in earnings per share of $0.08, missing consensus estimates, and noted a 4% decline in year-over-year revenue.

Voya Investment Management LLC decreased its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 11.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 472,680 shares of the industrial products company's stock after selling 61,058 shares during the quarter. Voya Investment Management LLC owned 1.33% of Manitowoc worth $4,060,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MTW. GSA Capital Partners LLP increased its position in shares of Manitowoc by 272.9% in the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company's stock valued at $2,064,000 after buying an additional 175,879 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Manitowoc by 779.8% during the first quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company's stock valued at $1,400,000 after purchasing an additional 144,498 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Manitowoc by 127.7% during the first quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company's stock valued at $2,146,000 after purchasing an additional 140,246 shares in the last quarter. Nuveen LLC acquired a new position in shares of Manitowoc during the 1st quarter worth about $851,000. Finally, Millennium Management LLC acquired a new position in shares of Manitowoc during the 4th quarter worth about $721,000. Institutional investors and hedge funds own 78.66% of the company's stock.

Manitowoc Trading Up 2.6%

Shares of MTW traded up $0.26 during midday trading on Tuesday, reaching $10.30. The company had a trading volume of 22,736 shares, compared to its average volume of 282,883. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. The Manitowoc Company, Inc. has a 1-year low of $7.06 and a 1-year high of $13.61. The firm has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $10.34. The stock has a market cap of $365.24 million, a PE ratio of 8.22 and a beta of 2.18.

Manitowoc (NYSE:MTW - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.12). The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $580.18 million. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Research analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on MTW shares. Wall Street Zen upgraded Manitowoc from a "sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Robert W. Baird lowered their price target on Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Finally, Barclays raised their price objective on Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Manitowoc currently has an average rating of "Reduce" and an average target price of $11.00.

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.