Los Angeles Capital Management LLC Sells 92,716 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Los Angeles Capital Management LLC cut its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 77.9% in the 3rd quarter, HoldingsChannel.com reports. 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’s holdings in Manitowoc were worth $253,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts have commented on MTW shares. The Goldman Sachs Group lowered their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Robert W. Baird cut their price target 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. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Barclays cut their target price on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Manitowoc currently has a consensus rating of “Hold” and an average price target of $12.47.

Manitowoc Trading Down 0.4 %

Shares of Manitowoc stock opened at $10.48 on Tuesday. The stock has a market capitalization of $367.99 million, a PE ratio of -38.79 and a beta of 1.84. 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 company’s fifty day simple moving average is $9.81 and its 200-day simple moving average is $10.71. The Manitowoc Company, Inc. has a 1-year low of $8.50 and a 1-year high of $17.65.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The firm had revenue of $524.80 million for the quarter, compared to the consensus estimate of $516.49 million. During the same quarter in the previous year, the business 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 anticipate that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current 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.