First Eagle Investment Management LLC Buys 397,837 Shares of The Manitowoc Company, Inc. (NYSE:MTW)

First Eagle Investment Management LLC grew its holdings in The Manitowoc Company, Inc. (NYSE:MTW) by 207.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 589,154 shares of the industrial products company’s stock after buying an additional 397,837 shares during the period. First Eagle Investment Management LLC owned 1.68% of Manitowoc worth $5,379,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp lifted its position in shares of Manitowoc by 8.1% in the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after buying an additional 64,101 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Manitowoc by 0.3% in the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock valued at $7,643,000 after buying an additional 2,224 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Manitowoc by 1.3% in the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock valued at $7,447,000 after buying an additional 9,758 shares during the last quarter. Hodges Capital Management Inc. lifted its position in shares of Manitowoc by 93.9% in the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after buying an additional 225,090 shares during the last quarter. Finally, Isthmus Partners LLC lifted its position in shares of Manitowoc by 2.1% in the fourth quarter. Isthmus Partners LLC now owns 186,512 shares of the industrial products company’s stock valued at $1,703,000 after buying an additional 3,898 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Stock Performance

MTW opened at $9.51 on Friday. The Manitowoc Company, Inc. has a 12-month low of $8.30 and a 12-month high of $14.32. The stock has a market cap of $333.95 million, a price-to-earnings ratio of 6.13 and a beta of 1.84. The business has a 50 day moving average of $9.85 and a 200-day moving average of $9.80. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. On average, equities research analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current 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.