Appleton Group LLC cut its position in shares of Manitowoc Company, Inc. (The) (NYSE:MTW) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,568 shares of the industrial products company’s stock after selling 3,981 shares during the period. Manitowoc Company, Inc. (The) makes up 0.2% of Appleton Group LLC’s portfolio, making the stock its 29th largest position. Appleton Group LLC’s holdings in Manitowoc Company, Inc. (The) were worth $178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTW. Birmingham Capital Management Co. Inc. AL raised its position in Manitowoc Company, Inc. (The) by 21.0% in the first quarter. Birmingham Capital Management Co. Inc. AL now owns 26,875 shares of the industrial products company’s stock worth $153,000 after buying an additional 4,670 shares during the period. Bank of New York Mellon Corp raised its position in Manitowoc Company, Inc. (The) by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after buying an additional 45,461 shares during the period. Eos Focused Equity Management L.P. purchased a new position in Manitowoc Company, Inc. (The) during the first quarter worth about $1,371,000. Daiwa Securities Group Inc. purchased a new position in Manitowoc Company, Inc. (The) during the first quarter worth about $2,039,000. Finally, Canada Pension Plan Investment Board raised its position in Manitowoc Company, Inc. (The) by 96.4% in the first quarter. Canada Pension Plan Investment Board now owns 196,800 shares of the industrial products company’s stock worth $1,122,000 after buying an additional 96,600 shares during the period. Institutional investors own 79.25% of the company’s stock.

Shares of Manitowoc Company, Inc. (NYSE MTW) opened at 7.80 on Friday. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $8.40. The company’s 50-day moving average is $6.14 and its 200-day moving average is $6.06. The firm’s market cap is $1.10 billion.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The business had revenue of $394.60 million during the quarter, compared to analyst estimates of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The firm’s revenue was down 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. Equities research analysts forecast that Manitowoc Company, Inc. will post ($0.15) earnings per share for the current fiscal year.

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A number of research analysts have issued reports on the stock. Deutsche Bank AG upped their target price on shares of Manitowoc Company, Inc. (The) from $5.81 to $7.85 and gave the company a “hold” rating in a report on Wednesday. Credit Suisse Group increased their price objective on shares of Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday. TheStreet upgraded shares of Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a report on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $9.50 price objective (up from $8.00) on shares of Manitowoc Company, Inc. (The) in a report on Wednesday. Finally, ValuEngine upgraded shares of Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.99.

About Manitowoc Company, Inc. (The)

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 Company, Inc. (The) (NYSE:MTW)

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