StockNews.com Initiates Coverage on Manitex International (NASDAQ:MNTX)

StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a research note released on Wednesday. The brokerage issued a hold rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the stock. Northland Securities restated a “market perform” rating and issued a $5.80 price objective (down previously from $8.00) on shares of Manitex International in a research report on Friday, September 13th. Northland Capmk downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a report on Friday, September 13th.

Manitex International Price Performance

Shares of NASDAQ MNTX opened at $5.73 on Wednesday. Manitex International has a 52-week low of $3.07 and a 52-week high of $9.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 1.64. The stock has a market cap of $116.87 million, a P/E ratio of 12.46 and a beta of 0.77. The firm has a 50 day moving average price of $5.69 and a 200 day moving average price of $5.14.

Institutional Investors Weigh In On Manitex International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in Manitex International during the 3rd quarter worth about $480,000. Marshall Wace LLP bought a new position in shares of Manitex International during the second quarter worth about $128,000. First Eagle Investment Management LLC grew its holdings in shares of Manitex International by 2.9% during the second quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock worth $1,356,000 after buying an additional 8,500 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Manitex International by 20.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock valued at $237,000 after buying an additional 5,853 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Manitex International by 2,049.4% during the 1st quarter. Russell Investments Group Ltd. now owns 67,319 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 64,187 shares during the last quarter. 46.01% of the stock is currently owned by institutional investors and hedge funds.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.