Hodges Capital Management Inc. Invests $2.31 Million in The Manitowoc Company, Inc. (NYSE:MTW)

Hodges Capital Management Inc. acquired a new stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 239,630 shares of the industrial products company's stock, valued at approximately $2,305,000. Hodges Capital Management Inc. owned approximately 0.68% of Manitowoc as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in Manitowoc during the 2nd quarter worth $8,813,000. Front Street Capital Management Inc. raised its position in Manitowoc by 8.4% during the 2nd 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 during the last quarter. Bank of Montreal Can bought a new position in Manitowoc during the 2nd quarter worth $2,385,000. TCW Group Inc. raised its position in Manitowoc by 65.4% during the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company's stock worth $4,683,000 after purchasing an additional 160,601 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Manitowoc by 31.1% during the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company's stock worth $6,810,000 after purchasing an additional 140,042 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTW. JPMorgan Chase & Co. lifted their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Robert W. Baird lowered their price objective on Manitowoc from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Finally, StockNews.com raised Manitowoc from a "sell" rating to a "hold" rating in a research report 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 data from MarketBeat.com, Manitowoc currently has a consensus rating of "Hold" and a consensus target price of $12.47.

Manitowoc Stock Down 0.2 %

Manitowoc stock traded down $0.03 during midday trading on Monday, reaching $10.19. The stock had a trading volume of 249,317 shares, compared to its average volume of 278,905. The Manitowoc Company, Inc. has a 12 month low of $8.50 and a 12 month high of $17.65. The company has a market capitalization of $357.80 million, a P/E ratio of -37.72 and a beta of 1.83. The company has a fifty day moving average price of $10.08 and a two-hundred day moving average price of $10.49. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). The firm 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 business's quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, equities analysts expect that The Manitowoc Company, Inc. will post 0.46 EPS for the current fiscal year.

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.