Renaissance Technologies LLC Trims Stock Holdings in The Manitowoc Company, Inc. $MTW

Renaissance Technologies LLC decreased its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 57.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,244 shares of the industrial products company’s stock after selling 63,956 shares during the quarter. Renaissance Technologies LLC’s holdings in Manitowoc were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Garner Asset Management Corp purchased a new position in shares of Manitowoc in the fourth quarter valued at $36,000. Tower Research Capital LLC TRC increased its position in shares of Manitowoc by 131.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after buying an additional 2,575 shares during the period. Quantbot Technologies LP bought a new position in shares of Manitowoc in the third quarter valued at approximately $47,000. State of Wyoming purchased a new position in shares of Manitowoc during the 1st quarter valued at $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Manitowoc in the 2nd quarter worth about $84,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MTW shares. Barclays reaffirmed an “underweight” rating and issued a $16.00 price target (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. Wells Fargo & Company upped their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Manitowoc presently has an average rating of “Sell” and a consensus target price of $14.00.

Manitowoc Stock Down 2.6%

MTW opened at $20.15 on Tuesday. The business’s fifty day simple moving average is $14.21 and its 200 day simple moving average is $13.41. The Manitowoc Company, Inc. has a 52 week low of $9.15 and a 52 week high of $21.34. The company has a quick ratio of 0.75, a current ratio of 2.11 and a debt-to-equity ratio of 0.66. The stock has a market cap of $726.61 million, a PE ratio of 36.64 and a beta of 1.72.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.35. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The firm had revenue of $594.90 million during the quarter, compared to analyst estimates of $564.00 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. As a group, research analysts expect that The Manitowoc Company, Inc. will post 0.68 earnings per share for the current fiscal year.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.