Russell Investments Group Ltd. Decreases Holdings in The Manitowoc Company, Inc. (NYSE:MTW)

Russell Investments Group Ltd. decreased its holdings in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) by 68.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,531 shares of the industrial products company's stock after selling 40,601 shares during the period. Russell Investments Group Ltd. owned 0.05% of Manitowoc worth $169,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in 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 acquiring an additional 64,101 shares during the period. 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 worth $4,242,000 after buying an additional 225,090 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Manitowoc by 84.5% during 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. Tectonic Advisors LLC increased its holdings in shares of Manitowoc by 103.1% in the 4th quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company's stock valued at $726,000 after purchasing an additional 40,333 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Manitowoc by 0.3% in the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company's stock valued at $7,643,000 after purchasing an additional 2,224 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Trading Up 4.0 %

Manitowoc stock traded up $0.32 during mid-day trading on Thursday, hitting $8.20. The stock had a trading volume of 71,727 shares, compared to its average volume of 286,956. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.46. The stock has a market capitalization of $290.45 million, a PE ratio of 5.29 and a beta of 1.79. The stock has a 50-day simple moving average of $8.79 and a two-hundred day simple moving average of $9.49.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. As a group, sell-side analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

Separately, UBS Group reduced their target price on Manitowoc from $13.00 to $9.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $10.66.

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.