Public Employees Retirement System of Ohio Cuts Stock Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Public Employees Retirement System of Ohio lowered its stake in The Manitowoc Company, Inc. (NYSE:MTW) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,521 shares of the industrial products company’s stock after selling 1,295 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Manitowoc were worth $409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Front Street Capital Management Inc. boosted its stake in Manitowoc by 8.4% during the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock valued at $32,361,000 after buying an additional 217,389 shares during the last quarter. State Street Corp boosted its position in shares of Manitowoc by 8.1% during the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after acquiring an additional 64,101 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Manitowoc by 1.3% in the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock valued at $7,447,000 after purchasing an additional 9,758 shares in the last quarter. AQR Capital Management LLC increased its position in Manitowoc by 31.1% in the second quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock worth $6,810,000 after purchasing an additional 140,042 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Manitowoc by 33.6% during the second quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock valued at $3,028,000 after purchasing an additional 66,013 shares in the last quarter. Institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Performance

Manitowoc stock opened at $8.63 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 market capitalization of $303.15 million, a PE ratio of -31.96 and a beta of 1.83. The company has a 50 day moving average price of $10.11 and a 200-day moving average price of $10.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $524.80 million for the quarter, compared to the consensus estimate of $516.49 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. Manitowoc’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts forecast that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird dropped their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.47.

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.