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

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

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

Manitex International Stock Performance

Shares of NASDAQ MNTX opened at $5.76 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 0.66. Manitex International has a 1 year low of $3.07 and a 1 year high of $9.16. The firm has a fifty day moving average price of $5.44 and a 200-day moving average price of $5.17. The stock has a market cap of $117.50 million, a PE ratio of 12.52 and a beta of 0.77.

Institutional Investors Weigh In On Manitex International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. boosted its holdings in shares of Manitex International by 17.8% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 3,340 shares during the period. Marshall Wace LLP bought a new stake in Manitex International in the second quarter worth $128,000. O Shaughnessy Asset Management LLC boosted its stake in Manitex International by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock worth $237,000 after buying an additional 5,853 shares during the period. Russell Investments Group Ltd. boosted its stake in Manitex International by 2,049.4% during the first quarter. Russell Investments Group Ltd. now owns 67,319 shares of the industrial products company’s stock worth $462,000 after buying an additional 64,187 shares during the period. Finally, Empowered Funds LLC bought a new position in Manitex International during the third quarter valued at $480,000. 46.01% of the stock is currently owned by hedge funds and other institutional investors.

About Manitex International

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.