Prudential Financial Inc. Lowers Position in The Manitowoc Company, Inc. (NYSE:MTW)

Prudential Financial Inc. lessened its stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 66.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,302 shares of the industrial products company's stock after selling 103,600 shares during the period. Prudential Financial Inc. owned about 0.15% of Manitowoc worth $478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MTW. R Squared Ltd bought a new stake in Manitowoc in the fourth quarter worth approximately $66,000. Quantbot Technologies LP grew its position in shares of Manitowoc by 20.9% during the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock worth $94,000 after buying an additional 1,771 shares during the period. LPL Financial LLC increased its stake in shares of Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after acquiring an additional 1,030 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Manitowoc by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company's stock valued at $140,000 after acquiring an additional 1,944 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Manitowoc during the third quarter worth $148,000. Institutional investors and hedge funds own 78.66% of the company's stock.

Analyst Ratings Changes

Separately, UBS Group dropped their price target on Manitowoc from $13.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, Manitowoc currently has a consensus rating of "Hold" and an average price target of $10.66.

Manitowoc Price Performance

NYSE:MTW traded up $0.06 during mid-day trading on Tuesday, hitting $7.57. 40,554 shares of the stock traded hands, compared to its average volume of 270,997. The Manitowoc Company, Inc. has a 12-month low of $7.06 and a 12-month high of $13.45. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The company has a market cap of $266.10 million, a PE ratio of 4.87 and a beta of 1.79. The business's 50-day moving average price is $9.50 and its 200 day moving average price is $9.64.

Manitowoc (NYSE:MTW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. On average, analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal 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.