TCW Group Inc. Cuts Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

TCW Group Inc. lowered its stake in The Manitowoc Company, Inc. (NYSE:MTW) by 81.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,278 shares of the industrial products company’s stock after selling 258,148 shares during the quarter. TCW Group Inc.’s holdings in Manitowoc were worth $523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Manitowoc by 0.3% during 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 buying an additional 2,224 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Manitowoc by 1.3% during 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 buying an additional 9,758 shares during the period. Hodges Capital Management Inc. lifted its holdings 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 valued at $4,242,000 after buying an additional 225,090 shares during the period. Finally, Empowered Funds LLC lifted its holdings 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 during the period. 78.66% of the stock is owned by institutional investors.

Manitowoc Price Performance

Shares of Manitowoc stock opened at $10.65 on Tuesday. The Manitowoc Company, Inc. has a one year low of $8.30 and a one year high of $14.32. The stock’s fifty day moving average is $9.59 and its 200 day moving average is $9.78. The stock has a market cap of $373.93 million, a P/E ratio of 6.87 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTW) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 EPS 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%. Sell-side analysts anticipate that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTW. Robert W. Baird lowered 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 raised Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.