Victory Capital Management Inc. Has $5.13 Million Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

Victory Capital Management Inc. lowered its position in shares of The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 23.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 597,047 shares of the industrial products company's stock after selling 178,058 shares during the quarter. Victory Capital Management Inc. owned about 1.68% of Manitowoc worth $5,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Manitowoc in the fourth quarter valued at about $35,000. Quantbot Technologies LP raised its stake in Manitowoc by 20.9% in the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 1,771 shares in the last quarter. LPL Financial LLC raised its stake in Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC raised its stake in Manitowoc by 3,309.6% in the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 11,782 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Manitowoc in the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 78.66% of the company's stock.

Insider Buying and Selling

In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, with a total value of $26,040.00. Following the completion of the purchase, the chief executive officer owned 690,142 shares in the company, valued at $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.52% of the stock is owned by insiders.

Manitowoc Stock Performance

Shares of MTW stock opened at $13.22 on Friday. The business's 50 day simple moving average is $11.81 and its 200 day simple moving average is $10.18. The Manitowoc Company, Inc. has a one year low of $7.06 and a one year high of $13.61. The stock has a market capitalization of $468.38 million, a PE ratio of 10.57 and a beta of 2.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 0.64.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The company had revenue of $470.90 million during the quarter, compared to the consensus estimate of $479.39 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The business's revenue was down 4.9% on a year-over-year basis. As a group, research analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on MTW shares. Barclays boosted their price target on Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. UBS Group boosted their price target on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Robert W. Baird dropped their price target on Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Manitowoc currently has a consensus rating of "Hold" and an average price target of $11.26.

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.

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