Federated Hermes Inc. Has $6.46 Million Stock Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Federated Hermes Inc. boosted its position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 44.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 386,958 shares of the industrial products company's stock after buying an additional 119,074 shares during the quarter. Federated Hermes Inc. owned approximately 1.10% of Manitowoc worth $6,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Manitowoc by 19.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company's stock worth $77,000 after purchasing an additional 823 shares during the last quarter. Swiss National Bank grew its position in Manitowoc by 1.7% in the 3rd quarter. Swiss National Bank now owns 77,250 shares of the industrial products company's stock worth $1,163,000 after purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Manitowoc by 8.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,447 shares of the industrial products company's stock worth $383,000 after purchasing an additional 1,928 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Manitowoc by 6.1% in the 3rd quarter. Avantax Advisory Services Inc. now owns 35,810 shares of the industrial products company's stock worth $539,000 after purchasing an additional 2,071 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Manitowoc by 4.1% in the 3rd quarter. Deutsche Bank AG now owns 58,870 shares of the industrial products company's stock worth $886,000 after purchasing an additional 2,300 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on MTW shares. Barclays decreased their target price on shares of Manitowoc from $15.00 to $12.00 and set an "underweight" rating on the stock in a research report on Monday. StockNews.com lowered shares of Manitowoc from a "buy" rating to a "hold" rating in a research report on Thursday, February 22nd. Wells Fargo & Company decreased their target price on shares of Manitowoc from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Manitowoc from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Manitowoc currently has a consensus rating of "Hold" and a consensus target price of $16.83.

Manitowoc Trading Down 1.3 %

NYSE MTW traded down $0.17 during trading on Friday, reaching $12.62. 133,477 shares of the stock traded hands, compared to its average volume of 251,021. The firm has a market cap of $447.76 million, a price-to-earnings ratio of 11.58 and a beta of 2.04. The stock's 50-day moving average price is $13.40 and its 200 day moving average price is $14.53. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. The Manitowoc Company, Inc. has a fifty-two week low of $12.20 and a fifty-two week high of $19.81.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.14). The business had revenue of $595.80 million for the quarter, compared to analyst estimates of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Analysts predict that The Manitowoc Company, Inc. will post 1.31 EPS 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.