Is Manitowoc Company, Inc. (MTW) A Good Stock To Buy?

Since Manitowoc Company, Inc. (NYSE:MTW) has witnessed bearish sentiment from the aggregate hedge fund industry, logic holds that there were a few fund managers that slashed their full holdings last quarter. It’s worth mentioning that Willem Mesdag’s Red Mountain Capital cut the largest stake of the “upper crust” of funds watched by Insider Monkey, totaling about $63.9 million in stock. Phill Gross and Robert Atchinson’s fund, Adage Capital Management, also sold off its stock, about $38 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 4 funds last quarter.

Let’s go over hedge fund activity in other stocks similar to Manitowoc Company, Inc. (NYSE:MTW). We will take a look at Paycom Software Inc (NYSE:PAYC), Electronics For Imaging, Inc. (NASDAQ:EFII), Insys Therapeutics Inc (NASDAQ:INSY), and First Financial Bankshares Inc (NASDAQ:FFIN). This group of stocks’ market caps are similar to MTW’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $168 million. That figure was $938 million in MTW’s case. Paycom Software Inc (NYSE:PAYC) is the most popular stock in this table. On the other hand, First Financial Bankshares Inc (NASDAQ:FFIN) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Manitowoc Company, Inc. (NYSE:MTW) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.