Jacobs Levy Equity Management Inc. Sells 80,952 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Jacobs Levy Equity Management Inc. trimmed its position in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 15.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,168 shares of the industrial products company's stock after selling 80,952 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.29% of Manitowoc worth $4,369,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MTW. Innealta Capital LLC bought a new position in shares of Manitowoc in the second quarter valued at $26,000. US Bancorp DE boosted its stake in Manitowoc by 88.1% during the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 1,327 shares during the last quarter. CWM LLC boosted its stake in Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 1,482 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Manitowoc by 63.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company's stock worth $55,000 after purchasing an additional 1,828 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Manitowoc in the third quarter worth approximately $51,000. 78.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MTW. StockNews.com upgraded Manitowoc from a "sell" rating to a "hold" rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Barclays reduced their price objective on shares of Manitowoc from $12.00 to $9.00 and set an "underweight" rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group dropped their target price on shares of Manitowoc from $13.00 to $11.30 and set a "sell" rating on the stock in a research report on Friday, August 9th. Finally, 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 research report on Friday, November 1st. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.47.

Manitowoc Stock Performance

Manitowoc stock traded down $0.04 during midday trading on Friday, reaching $10.21. The stock had a trading volume of 140,184 shares, compared to its average volume of 326,702. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $358.65 million, a PE ratio of -37.81 and a beta of 1.83. The Manitowoc Company, Inc. has a 12 month low of $8.50 and a 12 month high of $17.65. The firm's 50-day moving average price is $10.07 and its 200 day moving average price is $10.54.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly 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). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The business had revenue of $524.80 million for the quarter, compared to analysts' expectations of $516.49 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business's quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts predict that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current fiscal year.

About Manitowoc

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.