Hodges Capital Management Inc. Increases Position in The Manitowoc Company, Inc. (NYSE:MTW)

Hodges Capital Management Inc. lifted its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 93.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 464,720 shares of the industrial products company's stock after buying an additional 225,090 shares during the period. Hodges Capital Management Inc. owned approximately 1.32% of Manitowoc worth $4,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp grew its stake in 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 during the period. Geode Capital Management LLC raised its stake in shares of Manitowoc by 0.3% in 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. nVerses Capital LLC purchased a new stake in Manitowoc during the third quarter valued at about $51,000. Victory Capital Management Inc. boosted its holdings in Manitowoc by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company's stock worth $7,447,000 after buying an additional 9,758 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Manitowoc by 6.2% in the third quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company's stock valued at $1,192,000 after purchasing an additional 7,191 shares in the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTW. Robert W. Baird lowered their price objective on Manitowoc from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Manitowoc from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on Manitowoc from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.47.

Manitowoc Stock Up 0.6 %

Shares of MTW traded up $0.06 on Thursday, reaching $9.78. The stock had a trading volume of 213,879 shares, compared to its average volume of 229,374. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The Manitowoc Company, Inc. has a 12-month low of $8.30 and a 12-month high of $17.65. The firm has a market capitalization of $343.40 million, a price-to-earnings ratio of -36.20 and a beta of 1.83. The company has a 50-day simple moving average of $9.44 and a 200-day simple moving average of $9.91.

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.