Hodges Capital Management Inc. Increases Stock Position in The Manitowoc Company, Inc. (NYSE:MTW)

Hodges Capital Management Inc. boosted its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 93.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 464,720 shares of the industrial products company’s stock after acquiring an additional 225,090 shares during the quarter. Hodges Capital Management Inc.’s holdings in Manitowoc were worth $4,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its stake in Manitowoc by 8.1% during the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after acquiring an additional 64,101 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Manitowoc by 0.3% in the 3rd 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 period. Victory Capital Management Inc. grew its position in shares of Manitowoc by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock valued at $7,447,000 after purchasing an additional 9,758 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Manitowoc by 5.4% in the third quarter. Empowered Funds LLC now owns 168,500 shares of the industrial products company’s stock worth $1,621,000 after purchasing an additional 8,576 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Manitowoc by 6.2% in the third quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company’s stock worth $1,192,000 after buying an additional 7,191 shares in the last quarter. Institutional investors own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

MTW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Robert W. Baird dropped their target price on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.47.

Manitowoc Stock Down 0.7 %

MTW stock opened at $9.99 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The Manitowoc Company, Inc. has a one year low of $8.30 and a one year high of $17.65. The company’s 50 day moving average price is $9.52 and its two-hundred day moving average price is $9.94.

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.