TCW Group Inc. Lowers Stock Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

TCW Group Inc. cut its stake in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 81.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,278 shares of the industrial products company's stock after selling 258,148 shares during the quarter. TCW Group Inc. owned approximately 0.16% of Manitowoc worth $523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company's stock valued at $8,197,000 after purchasing an additional 64,101 shares in the last quarter. Geode Capital Management LLC grew its holdings in Manitowoc by 0.3% in the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company's stock valued at $7,643,000 after purchasing an additional 2,224 shares during the period. Victory Capital Management Inc. increased its position in shares of Manitowoc by 1.3% in the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company's stock valued at $7,447,000 after buying an additional 9,758 shares in the last quarter. Hodges Capital Management Inc. raised its stake in shares of Manitowoc by 93.9% during the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company's stock worth $4,242,000 after buying an additional 225,090 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Manitowoc by 5.1% during the 4th quarter. Empowered Funds LLC now owns 177,139 shares of the industrial products company's stock valued at $1,617,000 after buying an additional 8,639 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Manitowoc from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, November 1st. StockNews.com raised shares of Manitowoc from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.76.

Manitowoc Price Performance

NYSE MTW traded down $0.09 during mid-day trading on Friday, hitting $10.36. The stock had a trading volume of 223,075 shares, compared to its average volume of 296,679. The firm's 50 day moving average is $9.68 and its 200 day moving average is $9.81. 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 stock has a market capitalization of $363.81 million, a price-to-earnings ratio of 6.68 and a beta of 1.83. The Manitowoc Company, Inc. has a twelve month low of $8.30 and a twelve month high of $14.32.

Manitowoc (NYSE:MTW - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share (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%. Equities research analysts forecast that The Manitowoc Company, Inc. will post 0.5 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.