Morgan Stanley reduced its stake in shares of Manitowoc Company, Inc. (The) (NYSE:MTW) by 41.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 825,655 shares of the industrial products company’s stock after selling 583,513 shares during the period. Morgan Stanley’s holdings in Manitowoc Company, Inc. (The) were worth $4,706,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MTW. Leavell Investment Management Inc. increased its position in Manitowoc Company, Inc. (The) by 37.3% in the first quarter. Leavell Investment Management Inc. now owns 21,386 shares of the industrial products company’s stock valued at $122,000 after buying an additional 5,805 shares during the last quarter. JPMorgan Chase & Co. increased its position in Manitowoc Company, Inc. (The) by 704.5% in the first quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock valued at $130,000 after buying an additional 20,056 shares during the last quarter. Ameriprise Financial Inc. increased its position in Manitowoc Company, Inc. (The) by 8.7% in the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock valued at $150,000 after buying an additional 2,117 shares during the last quarter. Birmingham Capital Management Co. Inc. AL increased 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 valued at $153,000 after buying an additional 4,670 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Manitowoc Company, Inc. (The) during the first quarter valued at approximately $161,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Shares of Manitowoc Company, Inc. (NYSE:MTW) traded up 1.41% during midday trading on Friday, reaching $7.91. The company had a trading volume of 336,886 shares. The firm’s market capitalization is $1.11 billion. Manitowoc Company, Inc. has a one year low of $3.65 and a one year high of $8.40. The company has a 50 day moving average price of $6.14 and a 200-day moving average price of $6.06.

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

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Several equities analysts have recently commented on the company. UBS AG reaffirmed a “neutral” rating and issued a $8.00 target price (up previously from $6.00) on shares of Manitowoc Company, Inc. (The) in a research report on Thursday. ValuEngine raised Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research report on Thursday. TheStreet raised Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research report on Monday. Robert W. Baird raised Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and upped their target price for the company from $6.00 to $10.00 in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.50 target price (up previously from $8.00) on shares of Manitowoc Company, Inc. (The) in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Manitowoc Company, Inc. (The) has a consensus rating of “Hold” and a consensus 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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