The Manitowoc Company, Inc. (NYSE:MTW) Shares Sold by TCW Group Inc.

TCW Group Inc. cut its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 22.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 315,426 shares of the industrial products company's stock after selling 90,760 shares during the period. TCW Group Inc. owned 0.90% of Manitowoc worth $3,034,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in Manitowoc in the second quarter valued at approximately $8,813,000. Hodges Capital Management Inc. purchased a new stake in shares of Manitowoc during the 3rd quarter valued at $2,305,000. Front Street Capital Management Inc. grew its stake in shares of 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 valued at $32,361,000 after buying an additional 217,389 shares during the period. Bank of Montreal Can acquired a new stake in shares of Manitowoc during the 2nd quarter worth $2,385,000. Finally, AQR Capital Management LLC raised its position in shares of Manitowoc by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company's stock worth $6,810,000 after buying an additional 140,042 shares during the period. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Stock Up 0.4 %

Manitowoc stock traded up $0.04 during midday trading on Friday, hitting $9.91. 301,074 shares of the company were exchanged, compared to its average volume of 278,724. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The Manitowoc Company, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.65. The company's fifty day moving average price is $10.12 and its 200-day moving average price is $10.46. The company has a market cap of $348.14 million, a PE ratio of -36.70 and a beta of 1.83.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $524.80 million during the quarter, compared to analysts' expectations of $516.49 million. During the same quarter last year, the company posted $0.22 earnings per share. Manitowoc's revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts predict that The Manitowoc Company, Inc. will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MTW. JPMorgan Chase & Co. upped their price target on Manitowoc from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Robert W. Baird dropped their target price on shares of 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 shares of Manitowoc from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Two equities 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 stock currently has a consensus rating of "Hold" and an average target price of $12.47.

Manitowoc 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.