TCW Group Inc. Has $3.03 Million Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

TCW Group Inc. cut its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 22.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 315,426 shares of the industrial products company’s stock after selling 90,760 shares during the period. TCW Group Inc. owned approximately 0.90% of Manitowoc worth $3,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTW. Isthmus Partners LLC raised its holdings in shares of Manitowoc by 1.8% during the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 3,767 shares during the period. Innealta Capital LLC acquired a new stake in shares of Manitowoc in the 2nd quarter valued at about $26,000. US Bancorp DE lifted its holdings in shares of Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,327 shares in the last quarter. CWM LLC boosted its position in shares of Manitowoc by 97.0% during the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after buying an additional 1,482 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Manitowoc during the third quarter worth about $51,000. 78.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on MTW. StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird lowered their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, Manitowoc presently has a consensus rating of “Hold” and a consensus target price of $12.47.

Manitowoc Stock Performance

NYSE MTW opened at $9.87 on Friday. The Manitowoc Company, Inc. has a 12 month low of $8.50 and a 12 month high of $17.65. The stock has a 50 day moving average of $10.11 and a 200-day moving average of $10.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last released its quarterly earnings data 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 positive return on equity of 2.40% and a negative net margin of 0.40%. The firm had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts expect that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current fiscal year.

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.