Assenagon Asset Management S.A. lifted its position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 100.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,284 shares of the industrial products company's stock after acquiring an additional 63,215 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.35% of Manitowoc worth $1,754,000 at the end of the most recent reporting period.

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A number of other large investors also recently made changes to their positions in the company. IES Holdings Inc. purchased a new position in shares of Manitowoc in the 4th quarter worth approximately $14,688,000. Kennedy Capital Management LLC increased its position in shares of Manitowoc by 40.2% during the 4th quarter. Kennedy Capital Management LLC now owns 818,618 shares of the industrial products company's stock valued at $9,815,000 after purchasing an additional 234,840 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Manitowoc by 28.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 998,723 shares of the industrial products company's stock worth $11,975,000 after purchasing an additional 222,858 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Manitowoc by 154.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 340,280 shares of the industrial products company's stock worth $4,090,000 after purchasing an additional 206,313 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Manitowoc by 86.2% in the 3rd quarter. UBS Group AG now owns 384,062 shares of the industrial products company's stock worth $3,844,000 after buying an additional 177,823 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Manitowoc

In other news, Director Kenneth W. Krueger sold 9,000 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $11.80, for a total transaction of $106,200.00. Following the transaction, the director directly owned 162,672 shares of the company's stock, valued at $1,919,529.60. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on MTW shares. Barclays restated an "underweight" rating and set a $16.00 price objective (up from $11.00) on shares of Manitowoc in a report on Monday. Wells Fargo & Company boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company an "underweight" rating in a research note on Thursday. Wall Street Zen raised shares of Manitowoc from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Manitowoc from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Sell" and an average price target of $14.00.

Check Out Our Latest Stock Report on Manitowoc

Manitowoc Price Performance

MTW stock opened at $20.70 on Friday. The Manitowoc Company, Inc. has a 1 year low of $9.09 and a 1 year high of $21.34. The company has a market cap of $746.48 million, a P/E ratio of 37.64 and a beta of 1.72. The firm has a 50-day moving average of $14.04 and a 200 day moving average of $13.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.72.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.35. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The company had revenue of $594.90 million for the quarter, compared to analysts' expectations of $564.00 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, sell-side analysts forecast that The Manitowoc Company, Inc. will post 0.68 EPS for the current year.

About Manitowoc

(Free Report)

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.

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