TCW Group Inc. Sells 258,148 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

TCW Group Inc. lessened its stake in The Manitowoc Company, Inc. (NYSE:MTW) by 81.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,278 shares of the industrial products company’s stock after selling 258,148 shares during the period. TCW Group Inc. owned about 0.16% of Manitowoc worth $523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted 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 acquiring an additional 64,101 shares during the last quarter. Hodges Capital Management Inc. lifted its stake in shares of Manitowoc by 93.9% in the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after acquiring an additional 225,090 shares during the last quarter. Tectonic Advisors LLC lifted its stake in shares of Manitowoc by 103.1% in the 4th quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company’s stock valued at $726,000 after acquiring an additional 40,333 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Manitowoc by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock valued at $7,643,000 after acquiring an additional 2,224 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Manitowoc by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock valued at $7,447,000 after acquiring an additional 9,758 shares during the last quarter. Institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Down 1.3 %

MTW stock opened at $10.65 on Tuesday. The Manitowoc Company, Inc. has a fifty-two week low of $8.30 and a fifty-two week high of $14.32. The business’s 50 day moving average price is $9.59 and its two-hundred day moving average price is $9.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The company has a market capitalization of $373.93 million, a price-to-earnings ratio of 6.87 and a beta of 1.83.

Manitowoc (NYSE:MTW) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. As a group, analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Robert W. Baird reduced their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Manitowoc presently has a consensus rating of “Hold” and a consensus target price of $11.76.

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.