Kennedy Capital Management LLC Sells 51,300 Shares of The Manitowoc Company, Inc. $MTW

Kennedy Capital Management LLC decreased its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 6.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 778,657 shares of the industrial products company’s stock after selling 51,300 shares during the period. Kennedy Capital Management LLC’s holdings in Manitowoc were worth $9,359,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CWM LLC boosted its position in shares of Manitowoc by 669.9% in the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 6,377 shares in the last quarter. AlphaQuest LLC bought a new position in Manitowoc during the 2nd quarter valued at approximately $105,000. Bangor Savings Bank purchased a new position in Manitowoc during the second quarter valued at $120,000. Caxton Associates LLP bought a new stake in Manitowoc in the first quarter worth $112,000. Finally, R Squared Ltd purchased a new stake in shares of Manitowoc in the second quarter worth $169,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MTW shares. Wells Fargo & Company started coverage on Manitowoc in a report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target for the company. Wall Street Zen upgraded shares of Manitowoc from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Robert W. Baird dropped their price target on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a research note on Monday. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $10.25.

Manitowoc Stock Up 2.0%

Shares of MTW stock opened at $12.15 on Friday. The company has a market capitalization of $430.78 million, a price-to-earnings ratio of 7.64 and a beta of 1.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66. The company’s fifty day moving average price is $10.83 and its 200-day moving average price is $11.06. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.61.

Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share for the quarter. The company had revenue of $354.30 million for the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. Sell-side analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

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.