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

Bridgeway Capital Management LLC cut its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 42.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,139 shares of the industrial products company's stock after selling 230,591 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.87% of Manitowoc worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Hodges Capital Management Inc. boosted its position in 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 acquiring an additional 225,090 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Manitowoc by 84.5% during the 4th quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company's stock valued at $2,088,000 after acquiring an additional 104,709 shares in the last quarter. Tectonic Advisors LLC boosted its position in Manitowoc by 103.1% during the 4th quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company's stock valued at $726,000 after acquiring an additional 40,333 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Manitowoc by 207.9% during the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after purchasing an additional 397,837 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Manitowoc during the fourth quarter valued at approximately $414,000. 78.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $8.68 per share, with a total value of $26,040.00. Following the transaction, the chief executive officer now owns 690,142 shares in the company, valued at approximately $5,990,432.56. This trade represents a 0.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.52% of the stock is currently owned by insiders.

Manitowoc Stock Up 3.7%

NYSE MTW traded up $0.41 during mid-day trading on Tuesday, reaching $11.43. The stock had a trading volume of 335,226 shares, compared to its average volume of 287,106. The Manitowoc Company, Inc. has a 1 year low of $7.06 and a 1 year high of $13.45. The stock has a market cap of $405.11 million, a PE ratio of 7.37 and a beta of 1.92. The company has a fifty day moving average price of $8.62 and a 200 day moving average price of $9.45. 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 - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The company had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. During the same period last year, the firm posted $0.14 EPS. The company's revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MTW shares. UBS Group lowered their target price on shares of Manitowoc from $13.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Robert W. Baird decreased their price objective on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.46.

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.