Short Interest in The Manitowoc Company, Inc. (NYSE:MTW) Declines By 15.7%

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 572,300 shares, a decrease of 15.7% from the March 31st total of 679,200 shares. Based on an average trading volume of 283,600 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their price target on shares of Manitowoc from $13.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.66.

Manitowoc Stock Up 4.4 %

Manitowoc stock opened at $8.50 on Friday. The stock has a 50 day moving average of $8.69 and a two-hundred day moving average of $9.47. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.46. The stock has a market capitalization of $301.08 million, a price-to-earnings ratio of 5.48 and a beta of 1.79. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results 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%. As a group, research analysts expect that Manitowoc will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Front Street Capital Management Inc. boosted its holdings in Manitowoc by 7.8% in the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company's stock valued at $30,764,000 after purchasing an additional 243,077 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Manitowoc by 0.3% in the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company's stock valued at $7,643,000 after buying an additional 2,224 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in Manitowoc by 61.9% during the fourth quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company's stock worth $5,558,000 after acquiring an additional 232,744 shares during the period. First Eagle Investment Management LLC raised its position in Manitowoc by 207.9% in the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock worth $5,379,000 after acquiring an additional 397,837 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Manitowoc by 35.6% in 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. 78.66% of the stock is currently owned by institutional investors and hedge funds.

About Manitowoc

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.