Charles Schwab Investment Management Inc. Reduces Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Charles Schwab Investment Management Inc. lessened its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 17.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 511,909 shares of the industrial products company's stock after selling 110,413 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.46% of Manitowoc worth $4,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Front Street Capital Management Inc. raised its holdings in Manitowoc by 8.4% in the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company's stock worth $32,361,000 after purchasing an additional 217,389 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Manitowoc by 1.3% in the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company's stock worth $7,447,000 after purchasing an additional 9,758 shares during the period. AQR Capital Management LLC increased its stake in shares of Manitowoc by 31.1% during the second quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company's stock valued at $6,810,000 after purchasing an additional 140,042 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Manitowoc by 65.4% during the second quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company's stock valued at $4,683,000 after purchasing an additional 160,601 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Manitowoc by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company's stock worth $3,028,000 after purchasing an additional 66,013 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MTW shares. Robert W. Baird dropped their target price on Manitowoc from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Manitowoc from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Manitowoc presently has an average rating of "Hold" and a consensus price target of $12.47.

Manitowoc Stock Performance

NYSE:MTW traded up $0.04 during mid-day trading on Friday, reaching $9.91. The company's stock had a trading volume of 301,074 shares, compared to its average volume of 278,724. 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 stock has a market cap of $348.14 million, a P/E ratio of -36.70 and a beta of 1.83. The firm's fifty day moving average price is $10.12 and its two-hundred day moving average price is $10.46. The Manitowoc Company, Inc. has a 12-month low of $8.50 and a 12-month high of $17.65.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The company had revenue of $524.80 million for the quarter, compared to analysts' expectations of $516.49 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts forecast that The Manitowoc Company, Inc. will post 0.46 EPS for the current fiscal year.

Manitowoc 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.