CCM Investment Advisers LLC lowered its position in Manitowoc Company, Inc. (The) (NYSE:MTW) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the industrial products company’s stock after selling 20,000 shares during the period. CCM Investment Advisers LLC’s holdings in Manitowoc Company, Inc. (The) were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Manitowoc Company, Inc. (The) by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,149,967 shares of the industrial products company’s stock worth $57,854,000 after buying an additional 560,479 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Manitowoc Company, Inc. (The) by 33.0% in the first quarter. Dimensional Fund Advisors LP now owns 7,148,039 shares of the industrial products company’s stock valued at $40,744,000 after buying an additional 1,771,886 shares during the last quarter. Harris Associates L P raised its stake in shares of Manitowoc Company, Inc. (The) by 1.4% in the first quarter. Harris Associates L P now owns 6,597,924 shares of the industrial products company’s stock valued at $37,608,000 after buying an additional 88,500 shares during the last quarter. Southpoint Capital Advisors LP raised its stake in shares of Manitowoc Company, Inc. (The) by 33.3% in the first quarter. Southpoint Capital Advisors LP now owns 6,000,000 shares of the industrial products company’s stock valued at $34,200,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Investec Asset Management LTD raised its stake in shares of Manitowoc Company, Inc. (The) by 2.7% in the first quarter. Investec Asset Management LTD now owns 5,111,033 shares of the industrial products company’s stock valued at $29,133,000 after buying an additional 132,031 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Manitowoc Company, Inc. (NYSE:MTW) opened at 7.93 on Friday. The stock’s market capitalization is $1.11 billion. Manitowoc Company, Inc. has a 12 month low of $3.65 and a 12 month high of $8.40. The stock has a 50 day moving average price of $6.20 and a 200 day moving average price of $6.07.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The company had revenue of $394.60 million for the quarter, compared to analysts’ expectations of $396.44 million. During the same period last year, the firm earned $0.03 EPS. Manitowoc Company, Inc. (The)’s revenue for the quarter was down 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Manitowoc Company, Inc. will post ($0.15) earnings per share for the current fiscal year.

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MTW has been the topic of several research reports. ValuEngine upgraded Manitowoc Company, Inc. (The) from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Deutsche Bank AG boosted their target price on Manitowoc Company, Inc. (The) from $6.22 to $6.30 and gave the company a “hold” rating in a research note on Friday, May 12th. Robert W. Baird upgraded Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $6.00 to $10.00 in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and issued a $8.00 target price on shares of Manitowoc Company, Inc. (The) in a research note on Friday, June 16th. Finally, Credit Suisse Group boosted their target price on Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.99.

About Manitowoc Company, Inc. (The)

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

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Institutional Ownership by Quarter for Manitowoc Company, Inc. (The) (NYSE:MTW)

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