Los Angeles Capital Management LLC Reduces Position in The Manitowoc Company, Inc. (NYSE:MTW)

Los Angeles Capital Management LLC lowered its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 77.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,309 shares of the industrial products company’s stock after selling 92,716 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of Manitowoc worth $253,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research report on Friday, August 9th. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Barclays reduced their price target on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Robert W. Baird reduced their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Manitowoc currently has an average rating of “Hold” and an average price target of $12.47.

Manitowoc Stock Performance

Manitowoc stock opened at $10.48 on Tuesday. The Manitowoc Company, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.65. The firm’s fifty day moving average price is $9.81 and its 200-day moving average price is $10.71. The stock has a market cap of $367.99 million, a P/E ratio of -38.79 and a beta of 1.84. 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 issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.14). The firm had revenue of $524.80 million for the quarter, compared to the consensus estimate of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. On average, equities research analysts expect that The Manitowoc Company, Inc. will post 0.46 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.