Connor Clark & Lunn Investment Management Ltd. Sells 52,242 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 56.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,851 shares of the industrial products company’s stock after selling 52,242 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Manitowoc were worth $383,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Manitowoc in the second quarter valued at about $26,000. US Bancorp DE boosted its holdings in Manitowoc by 88.1% in the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,327 shares during the period. CWM LLC boosted its holdings in Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,482 shares during the period. Point72 Asset Management L.P. grew its position in shares of Manitowoc by 63.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,828 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Manitowoc during the third quarter worth approximately $51,000. Institutional investors own 78.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MTW shares. Barclays cut their price target on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group reduced their target price on Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a report on Friday, August 9th. Robert W. Baird decreased their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective 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. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.47.

Manitowoc Stock Performance

Shares of MTW opened at $10.63 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 52-week low of $8.50 and a 52-week high of $17.65. The firm has a market cap of $373.40 million, a price-to-earnings ratio of -39.37 and a beta of 1.84. The business’s fifty day moving average is $9.98 and its 200-day moving average is $10.62.

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

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.