Russell Investments Group Ltd. Sells 40,601 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Russell Investments Group Ltd. lessened its position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 68.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,531 shares of the industrial products company's stock after selling 40,601 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Manitowoc worth $169,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Manitowoc during the 4th quarter valued at $66,000. Quantbot Technologies LP boosted its stake in Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock worth $94,000 after acquiring an additional 1,771 shares in the last quarter. LPL Financial LLC grew its holdings in Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock worth $104,000 after purchasing an additional 1,030 shares during the period. SG Americas Securities LLC grew its holdings in Manitowoc by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company's stock worth $140,000 after purchasing an additional 1,944 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Manitowoc during the fourth quarter valued at approximately $217,000. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Stock Up 0.2 %

Shares of NYSE MTW traded up $0.02 during midday trading on Tuesday, hitting $8.02. The stock had a trading volume of 295,796 shares, compared to its average volume of 287,279. The company has a market cap of $284.24 million, a P/E ratio of 5.17 and a beta of 1.79. 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 business's 50 day moving average is $8.92 and its 200-day moving average is $9.51. The Manitowoc Company, Inc. has a 52 week low of $7.06 and a 52 week high of $13.46.

Manitowoc (NYSE:MTW - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. As a group, analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price target on Manitowoc from $13.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, Manitowoc presently has a consensus rating of "Hold" and an average price target of $10.66.

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.