Adirondack Research & Management Inc. lessened its position in Manitex International Inc (NASDAQ:MNTX) by 42.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 112,921 shares of the industrial products company’s stock after selling 82,552 shares during the period. Adirondack Research & Management Inc. owned approximately 0.57% of Manitex International worth $561,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MNTX. Ironwood Investment Management LLC boosted its stake in shares of Manitex International by 19.0% in the 1st quarter. Ironwood Investment Management LLC now owns 99,143 shares of the industrial products company’s stock worth $409,000 after buying an additional 15,796 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Manitex International by 37.3% in the 1st quarter. Wells Fargo & Company MN now owns 23,927 shares of the industrial products company’s stock worth $99,000 after buying an additional 6,504 shares during the last quarter. First Wilshire Securities Management Inc. boosted its stake in shares of Manitex International by 9.9% in the 1st quarter. First Wilshire Securities Management Inc. now owns 1,025,584 shares of the industrial products company’s stock worth $4,236,000 after buying an additional 92,021 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Manitex International by 4.5% in the 2nd quarter. Wedbush Securities Inc. now owns 235,937 shares of the industrial products company’s stock worth $1,173,000 after buying an additional 10,227 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Manitex International in the 2nd quarter worth $52,000. 50.77% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research cut Manitex International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th.
NASDAQ:MNTX traded down $0.07 during trading hours on Friday, reaching $4.50. The company’s stock had a trading volume of 10,723 shares, compared to its average volume of 11,121. Manitex International Inc has a 12 month low of $2.76 and a 12 month high of $6.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.59. The company has a market capitalization of $88.95 million, a P/E ratio of -3.88, a price-to-earnings-growth ratio of 11.25 and a beta of 1.25. The stock has a 50 day moving average price of $4.49 and a two-hundred day moving average price of $4.50.
Manitex International (NASDAQ:MNTX) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $37.12 million during the quarter. Manitex International had a negative net margin of 11.86% and a positive return on equity of 0.92%. As a group, analysts predict that Manitex International Inc will post 0.04 EPS for the current fiscal year.
About Manitex International
Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.
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