32,340 Shares in The Manitowoc Company, Inc. $MTW Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in The Manitowoc Company, Inc. (NYSE:MTW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,340 shares of the industrial products company’s stock, valued at approximately $449,000. Public Employees Retirement System of Ohio owned about 0.09% of Manitowoc as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Front Street Capital Management Inc. bought a new stake in shares of Manitowoc in the 2nd quarter valued at about $44,547,000. Bank of New York Mellon Corp bought a new position in Manitowoc during the 2nd quarter worth approximately $1,717,000. Assenagon Asset Management S.A. increased its stake in Manitowoc by 100.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company’s stock worth $1,754,000 after purchasing an additional 63,215 shares during the period. Royal Bank of Canada increased its stake in Manitowoc by 55.1% in the 1st quarter. Royal Bank of Canada now owns 84,508 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 30,019 shares during the period. Finally, Empowered Funds LLC increased its stake in Manitowoc by 8.6% in the 1st quarter. Empowered Funds LLC now owns 224,437 shares of the industrial products company’s stock worth $2,615,000 after purchasing an additional 17,694 shares during the period. 78.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MTW shares. Wells Fargo & Company increased their price objective on Manitowoc from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. 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, Wall Street Zen upgraded shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $14.00.

Manitowoc Price Performance

MTW opened at $20.49 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11. The Manitowoc Company, Inc. has a 52-week low of $9.66 and a 52-week high of $21.50. The stock has a market capitalization of $738.98 million, a PE ratio of 37.26 and a beta of 1.77. The stock’s 50 day moving average price is $16.67 and its 200-day moving average price is $14.14.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.35. The company had revenue of $594.90 million during the quarter, compared to analyst estimates of $564.00 million. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, equities research analysts predict that The Manitowoc Company, Inc. will post 1 EPS for the current year.

About Manitowoc

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.