Vise Technologies Inc. Acquires Shares of 27,895 The Manitowoc Company, Inc. $MTW

Vise Technologies Inc. bought a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,895 shares of the industrial products company’s stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in shares of Manitowoc by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock worth $4,002,000 after purchasing an additional 64,983 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Manitowoc during the first quarter worth about $380,000. Boston Partners acquired a new position in shares of Manitowoc during the first quarter valued at about $248,000. Russell Investments Group Ltd. boosted its stake in Manitowoc by 779.8% in the 1st quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company’s stock worth $1,400,000 after purchasing an additional 144,498 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Manitowoc by 127.7% during the 1st quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 140,246 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Stock Down 4.0%

MTW opened at $11.09 on Monday. The stock has a market capitalization of $393.23 million, a P/E ratio of 8.87 and a beta of 2.15. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.61. The business’s 50-day simple moving average is $10.54 and its 200-day simple moving average is $10.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07.

Manitowoc (NYSE:MTW) last issued its quarterly 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 negative return on equity of 0.33% and a net margin of 2.11%. Analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

MTW has been the topic of several research analyst reports. Barclays boosted their price target on Manitowoc from $9.00 to $11.00 and gave the company an “underweight” rating in a research note on Monday, July 21st. Wells Fargo & Company began coverage on Manitowoc in a report on Thursday. They set an “underweight” rating and a $9.00 target price on the stock. Wall Street Zen upgraded shares of Manitowoc from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird lowered their price target on Manitowoc from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, Weiss Ratings raised Manitowoc from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $10.25.

Manitowoc Company Profile

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.