The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC cut its position in The Manitowoc Company, Inc. (NYSE:MTW) by 15.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,614 shares of the industrial products company’s stock after selling 32,370 shares during the quarter. Isthmus Partners LLC owned 0.52% of Manitowoc worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of MTW. US Bancorp DE boosted its holdings in Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,327 shares during the period. CWM LLC boosted its holdings in Manitowoc by 97.0% in the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,482 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Manitowoc by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,516 shares during the period. Point72 Asset Management L.P. boosted its holdings in Manitowoc by 63.0% in the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,828 shares during the period. Finally, Goldstein Advisors LLC boosted its holdings in Manitowoc by 14.0% in the second quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 2,000 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays decreased their target price on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group decreased their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th. Robert W. Baird decreased their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, November 1st. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Manitowoc has a consensus rating of “Hold” and a consensus target price of $12.47.

Manitowoc Stock Up 0.7 %

Manitowoc stock opened at $10.63 on Friday. The Manitowoc Company, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The company has a market capitalization of $373.43 million, a P/E ratio of -39.37 and a beta of 1.84. The stock has a 50-day simple moving average of $9.95 and a 200-day simple moving average of $10.63.

Manitowoc (NYSE:MTW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The firm had revenue of $524.80 million during the quarter, compared to analysts’ expectations of $516.49 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

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.