Invesco Ltd. Purchases 2,294 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Invesco Ltd. lifted its position in The Manitowoc Company, Inc. (NYSE:MTW) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,173,069 shares of the industrial products company’s stock after buying an additional 2,294 shares during the period. Invesco Ltd.’s holdings in Manitowoc were worth $10,710,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after purchasing an additional 64,101 shares in the last quarter. Geode Capital Management LLC increased its holdings in Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock valued at $7,643,000 after buying an additional 2,224 shares during the period. First Eagle Investment Management LLC raised its stake in Manitowoc by 207.9% in the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock worth $5,379,000 after buying an additional 397,837 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Manitowoc by 93.9% during the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock worth $4,242,000 after buying an additional 225,090 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Manitowoc by 84.5% during the 4th quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company’s stock valued at $2,088,000 after acquiring an additional 104,709 shares in the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their price objective on Manitowoc from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, Manitowoc presently has a consensus rating of “Hold” and a consensus price target of $10.66.

Manitowoc Price Performance

NYSE MTW opened at $7.57 on Wednesday. The Manitowoc Company, Inc. has a 12-month low of $7.06 and a 12-month high of $13.46. The firm’s fifty day simple moving average is $9.20 and its two-hundred day simple moving average is $9.55. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $268.30 million, a P/E ratio of 4.88 and a beta of 1.79.

Manitowoc (NYSE:MTW) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. Analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

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.