Manitex International, Inc. (NASDAQ:MNTX) Stake Cut by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its position in Manitex International, Inc. (NASDAQ:MNTX) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,067 shares of the industrial products company’s stock after selling 1,479 shares during the period. Bank of New York Mellon Corp’s holdings in Manitex International were worth $108,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its stake in Manitex International by 41.5% in the first quarter. Boston Partners now owns 530,789 shares of the industrial products company’s stock worth $3,556,000 after buying an additional 155,704 shares during the last quarter. Shaker Investments LLC OH raised its stake in Manitex International by 82.4% in the first quarter. Shaker Investments LLC OH now owns 98,300 shares of the industrial products company’s stock worth $659,000 after buying an additional 44,400 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in Manitex International by 73.5% in the first quarter. Essex Investment Management Co. LLC now owns 173,224 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 73,382 shares during the last quarter. WealthTrust Axiom LLC raised its stake in Manitex International by 12.8% in the first quarter. WealthTrust Axiom LLC now owns 830,262 shares of the industrial products company’s stock worth $5,562,000 after buying an additional 93,996 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Manitex International during the fourth quarter worth about $1,119,000. Institutional investors and hedge funds own 66.06% of the company’s stock.
Manitex International, Inc. (NASDAQ MNTX) traded up 1.36% during trading on Friday, hitting $8.20. The stock had a trading volume of 117,258 shares. The company’s market cap is $135.76 million. Manitex International, Inc. has a one year low of $4.98 and a one year high of $9.89. The firm has a 50 day moving average of $7.27 and a 200-day moving average of $7.39.
Manitex International (NASDAQ:MNTX) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.08. Manitex International had a positive return on equity of 2.50% and a negative net margin of 15.69%. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $44.35 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts anticipate that Manitex International, Inc. will post $0.19 earnings per share for the current fiscal year.
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A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Thursday. ValuEngine raised Manitex International from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Roth Capital set a $10.00 price target on Manitex International and gave the stock a “buy” rating in a research report on Thursday, June 8th.
Manitex International Company Profile
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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