Connor Clark & Lunn Investment Management Ltd. Sells 52,242 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 56.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,851 shares of the industrial products company's stock after selling 52,242 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Manitowoc worth $383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Isthmus Partners LLC boosted its position in Manitowoc by 1.8% during the 2nd quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company's stock worth $25,000 after buying an additional 3,767 shares during the period. Innealta Capital LLC bought a new stake in shares of Manitowoc in the second quarter worth $26,000. US Bancorp DE raised its position in Manitowoc by 88.1% during the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company's stock worth $27,000 after purchasing an additional 1,327 shares during the last quarter. CWM LLC lifted its holdings in Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company's stock worth $35,000 after buying an additional 1,482 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Manitowoc in the 3rd quarter valued at about $51,000. Institutional investors own 78.66% of the company's stock.

Manitowoc Price Performance

Shares of MTW remained flat at $10.63 during trading hours on Friday. The stock had a trading volume of 157,338 shares, compared to its average volume of 382,076. The Manitowoc Company, Inc. has a 12 month low of $8.50 and a 12 month high of $17.65. The firm has a market cap of $373.43 million, a price-to-earnings ratio of -39.37 and a beta of 1.84. The business's fifty day moving average is $9.98 and its 200 day moving average is $10.60. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70.

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 analysts' consensus estimates of $0.06 by ($0.14). The business had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The firm's quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. Equities analysts predict that The Manitowoc Company, Inc. will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MTW shares. StockNews.com raised Manitowoc from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Robert W. Baird decreased their price target on Manitowoc from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Barclays dropped their price objective on Manitowoc from $12.00 to $9.00 and set an "underweight" rating on the stock in a research note on Friday, August 9th. Finally, The Goldman Sachs Group decreased their target price on Manitowoc from $13.00 to $11.30 and set a "sell" rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.47.

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.