Empowered Funds LLC Has $1.62 Million Stock Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Empowered Funds LLC lifted its position in The Manitowoc Company, Inc. (NYSE:MTW) by 5.4% during the 3rd quarter, Holdings Channel reports. The firm owned 168,500 shares of the industrial products company’s stock after buying an additional 8,576 shares during the quarter. Empowered Funds LLC’s holdings in Manitowoc were worth $1,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Manitowoc during the first quarter worth $245,000. Price T Rowe Associates Inc. MD grew its holdings in Manitowoc by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock worth $563,000 after acquiring an additional 1,516 shares during the last quarter. Boston Partners increased its position in Manitowoc by 22.9% in 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 in the last quarter. CWM LLC lifted its position in shares of Manitowoc by 97.0% during the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Strong Tower Advisory Services acquired a new stake in shares of Manitowoc in the second quarter valued at approximately $173,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Price Performance

Shares of Manitowoc stock opened at $10.61 on Friday. The company has a 50-day simple moving average of $9.88 and a two-hundred day simple moving average of $10.69. The Manitowoc Company, Inc. has a twelve month low of $8.50 and a twelve month high of $17.65. The stock has a market capitalization of $372.55 million, a price-to-earnings ratio of -39.28 and a beta of 1.84. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70.

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

Analysts Set New Price Targets

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

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.