CCM Investment Advisers LLC lowered its position in shares of Manitowoc Company, Inc. (The) (NYSE:MTW) by 50.0% during the second quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Appleton Group LLC acquired a new stake in Manitowoc Company, Inc. (The) during the first quarter worth approximately $191,000. Bank of New York Mellon Corp boosted its stake in Manitowoc Company, Inc. (The) by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after buying an additional 45,461 shares in the last quarter. Eos Focused Equity Management L.P. acquired a new stake in Manitowoc Company, Inc. (The) during the first quarter worth approximately $1,371,000. Daiwa Securities Group Inc. acquired a new stake in Manitowoc Company, Inc. (The) during the first quarter worth approximately $2,039,000. Finally, Canada Pension Plan Investment Board boosted its stake in Manitowoc Company, Inc. (The) by 96.4% in the first quarter. Canada Pension Plan Investment Board now owns 196,800 shares of the industrial products company’s stock worth $1,122,000 after buying an additional 96,600 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

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

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The firm had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. Equities analysts expect that Manitowoc Company, Inc. will post ($0.15) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/08/12/manitowoc-company-inc-the-nysemtw-position-cut-by-ccm-investment-advisers-llc.html.

A number of equities research analysts have commented on the company. Deutsche Bank AG raised their price target on Manitowoc Company, Inc. (The) from $5.81 to $7.85 and gave the company a “hold” rating in a report on Wednesday. Credit Suisse Group raised their price target on Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the company a “neutral” rating in a report on Wednesday. TheStreet raised Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and set a $9.50 price target (up from $8.00) on shares of Manitowoc Company, Inc. (The) in a report on Wednesday. Finally, ValuEngine raised Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average 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.

Want to see what other hedge funds are holding MTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manitowoc Company, Inc. (The) (NYSE:MTW).

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

Receive News & Ratings for Manitowoc Company Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc Company Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.