Geode Capital Management LLC Decreases Position in The Manitowoc Company, Inc. (NYSE:MTW)

Geode Capital Management LLC trimmed its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 779,336 shares of the industrial products company’s stock after selling 14,999 shares during the period. Geode Capital Management LLC owned about 2.22% of Manitowoc worth $7,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First Eagle Investment Management LLC grew its position in Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock worth $5,379,000 after acquiring an additional 397,837 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Manitowoc by 93.9% during the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after purchasing an additional 225,090 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Manitowoc by 84.5% in the fourth quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company’s stock worth $2,088,000 after purchasing an additional 104,709 shares during the last quarter. State Street Corp increased its stake in shares of Manitowoc by 8.1% in the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after buying an additional 64,101 shares during the period. Finally, Jane Street Group LLC raised its holdings in Manitowoc by 103.0% during the 3rd quarter. Jane Street Group LLC now owns 81,647 shares of the industrial products company’s stock valued at $785,000 after buying an additional 41,427 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their price objective on shares of Manitowoc from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.66.

Manitowoc Trading Up 4.2 %

Shares of MTW opened at $8.05 on Friday. The Manitowoc Company, Inc. has a 1-year low of $7.06 and a 1-year high of $13.46. The firm has a market capitalization of $285.13 million, a price-to-earnings ratio of 5.19 and a beta of 1.79. The firm’s 50-day moving average price is $9.08 and its 200-day moving average price is $9.53. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last released 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 net margin of 2.56% and a return on equity of 2.46%. Sell-side analysts anticipate that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Manitowoc Company 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.