Victory Capital Management Inc. Has $7.45 Million Stake in The Manitowoc Company, Inc. (NYSE:MTW)

Victory Capital Management Inc. lifted its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 774,115 shares of the industrial products company’s stock after buying an additional 9,758 shares during the period. Victory Capital Management Inc. owned approximately 2.20% of Manitowoc worth $7,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE raised its holdings in shares of Manitowoc by 88.1% during the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,327 shares in the last quarter. Tectonic Advisors LLC purchased a new position in shares of Manitowoc during the third quarter valued at approximately $376,000. nVerses Capital LLC purchased a new position in Manitowoc in the third quarter worth about $51,000. Strong Tower Advisory Services lifted its position in Manitowoc by 33.6% during the third quarter. Strong Tower Advisory Services now owns 20,084 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 5,053 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Manitowoc in the 3rd quarter worth $129,000. 78.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MTW has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Barclays decreased their price objective on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. The Goldman Sachs Group decreased their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research note 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.47.

Manitowoc Price Performance

Manitowoc stock opened at $10.61 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The Manitowoc Company, Inc. has a one year low of $8.50 and a one year high of $17.65. The business has a fifty day moving average of $9.88 and a two-hundred day moving average of $10.69. The company has a market cap of $372.55 million, a P/E ratio of -39.28 and a beta of 1.84.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The business had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts predict that The Manitowoc Company, Inc. will post 0.46 earnings per share for the current fiscal year.

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.