Los Angeles Capital Management LLC Reduces Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

Los Angeles Capital Management LLC decreased its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 77.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,309 shares of the industrial products company's stock after selling 92,716 shares during the quarter. Los Angeles Capital Management LLC owned about 0.07% of Manitowoc worth $253,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TCW Group Inc. increased its position in shares of Manitowoc by 65.4% in the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company's stock valued at $4,683,000 after acquiring an additional 160,601 shares during the period. American Century Companies Inc. lifted its holdings in Manitowoc by 33.6% in the second quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company's stock valued at $3,028,000 after acquiring an additional 66,013 shares during the period. Front Street Capital Management Inc. boosted its position in Manitowoc by 8.4% in 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 in the last quarter. Boston Partners grew its stake in shares of Manitowoc by 22.9% during the 1st quarter. Boston Partners now owns 15,422 shares of the industrial products company's stock worth $218,000 after purchasing an additional 2,874 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Manitowoc during the 3rd quarter valued at approximately $51,000. 78.66% of the stock is owned by institutional investors.

Manitowoc Stock Down 3.9 %

Shares of Manitowoc stock traded down $0.41 during midday trading on Tuesday, hitting $10.06. The company's stock had a trading volume of 133,529 shares, compared to its average volume of 275,386. The stock has a 50-day simple moving average of $9.81 and a 200-day simple moving average of $10.71. The firm has a market capitalization of $353.41 million, a P/E ratio of -37.26 and a beta of 1.84. 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 Manitowoc Company, Inc. has a 1-year low of $8.50 and a 1-year high of $17.65.

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 the consensus estimate of $0.06 by ($0.14). The business had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The business's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. As a group, sell-side analysts expect that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

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

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.