Fisher Asset Management LLC Buys 9,388 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Fisher Asset Management LLC raised its stake in The Manitowoc Company, Inc. (NYSE:MTW) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,640 shares of the industrial products company’s stock after acquiring an additional 9,388 shares during the period. Fisher Asset Management LLC owned approximately 0.33% of Manitowoc worth $1,132,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. TCW Group Inc. increased its holdings in shares of Manitowoc by 65.4% in the second quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock worth $4,683,000 after purchasing an additional 160,601 shares during the last quarter. American Century Companies Inc. increased its stake in Manitowoc by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock worth $3,028,000 after acquiring an additional 66,013 shares during the last quarter. Front Street Capital Management Inc. raised its holdings in shares of Manitowoc by 8.4% during the 2nd quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after acquiring an additional 217,389 shares in the last quarter. Boston Partners boosted its position in shares of Manitowoc by 22.9% during the 1st quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 2,874 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Manitowoc during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Price Performance

Shares of MTW stock opened at $10.63 on Friday. The stock has a 50 day moving average price of $9.96 and a 200 day moving average price of $10.63. The Manitowoc Company, Inc. has a 52-week low of $8.50 and a 52-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 firm has a market capitalization of $373.40 million, a P/E ratio of -39.37 and a beta of 1.84.

Manitowoc (NYSE:MTW) last released 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). The business had revenue of $524.80 million for the quarter, compared to the consensus estimate of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 earnings per share. As a group, sell-side analysts predict that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

MTW has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird reduced their price objective on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Barclays dropped 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. Finally, JPMorgan Chase & Co. increased their price target on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a 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. Based on data from MarketBeat, Manitowoc currently has a consensus rating of “Hold” and a consensus 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.