Associated Banc Corp trimmed its holdings in shares of Manitowoc Company Inc (NYSE:MTW) by 75.7% during the fourth quarter, Holdings Channel reports. The fund owned 26,440 shares of the industrial products company’s stock after selling 82,309 shares during the quarter. Associated Banc Corp’s holdings in Manitowoc were worth $1,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SeaCrest Wealth Management LLC bought a new stake in Manitowoc during the 4th quarter worth approximately $129,000. Comerica Bank bought a new stake in Manitowoc during the 4th quarter worth approximately $987,000. Engineers Gate Manager LP bought a new stake in Manitowoc during the 4th quarter worth approximately $765,000. Hennessy Advisors Inc. bought a new stake in Manitowoc during the 4th quarter worth approximately $29,631,000. Finally, Fox Run Management L.L.C. bought a new stake in Manitowoc during the 4th quarter worth approximately $799,000.

Manitowoc Company Inc (NYSE MTW) opened at $33.95 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76. Manitowoc Company Inc has a 1 year low of $21.00 and a 1 year high of $44.03. The stock has a market cap of $1,190.00, a price-to-earnings ratio of 135.80 and a beta of 1.46.

Manitowoc (NYSE:MTW) last released its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.59%. The company had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. During the same quarter in the previous year, the firm earned ($0.24) EPS. The firm’s revenue was up 27.3% on a year-over-year basis. research analysts expect that Manitowoc Company Inc will post 0.56 earnings per share for the current fiscal year.

In related news, Director Charles David Myers bought 3,854 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.82% of the stock is owned by insiders.

A number of research analysts have recently issued reports on the stock. Deutsche Bank dropped their price target on shares of Manitowoc from $44.00 to $36.00 and set a “hold” rating on the stock in a research report on Monday. Stifel Nicolaus dropped their price target on shares of Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. downgraded shares of Manitowoc from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $30.00 to $29.00 in a research report on Monday. Barclays assumed coverage on shares of Manitowoc in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Robert W. Baird restated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Manitowoc currently has an average rating of “Hold” and an average price target of $39.92.

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Manitowoc Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

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Institutional Ownership by Quarter for Manitowoc (NYSE:MTW)

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