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

Renaissance Technologies LLC trimmed its position in The Manitowoc Company, Inc. (NYSE:MTW) by 57.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 47,244 shares of the industrial products company’s stock after selling 63,956 shares during the period. Renaissance Technologies LLC owned about 0.13% of Manitowoc worth $550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Manitowoc by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 23,090 shares of the industrial products company’s stock worth $277,000 after buying an additional 696 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Manitowoc by 5.2% in the first quarter. Public Employees Retirement System of Ohio now owns 32,187 shares of the industrial products company’s stock valued at $375,000 after acquiring an additional 1,594 shares in the last quarter. Deutsche Bank AG increased its position in shares of Manitowoc by 6.4% during the fourth quarter. Deutsche Bank AG now owns 33,847 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 2,025 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Manitowoc by 20.9% during the third quarter. Intech Investment Management LLC now owns 13,752 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 2,376 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 worth $55,000 after acquiring an additional 2,575 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Manitowoc Trading Down 2.6%

NYSE:MTW opened at $20.15 on Tuesday. The Manitowoc Company, Inc. has a 12 month low of $9.15 and a 12 month high of $21.34. The company has a current ratio of 2.11, a quick ratio of 0.75 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $14.21 and its 200 day moving average is $13.41. The stock has a market capitalization of $726.61 million, a PE ratio of 36.64 and a beta of 1.72.

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