Zacks Investment Research downgraded shares of Manitex International (NASDAQ:MNTX) from a strong-buy rating to a hold rating in a research report report published on Wednesday, January 3rd.
According to Zacks, “MANITEX INTERNATIONAL INC is a leading provider of engineered lifting solutions including boom trucks, cranes, rough terrain forklifts, and special mission oriented vehicles. Through their subsidiaries, they manufacture and market a comprehensive line of boom trucks and sign cranes. Their boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. “
Separately, Roth Capital lowered shares of Manitex International from a buy rating to a neutral rating and set a $10.00 price objective for the company. in a report on Tuesday, November 7th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Manitex International by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock valued at $911,000 after buying an additional 4,176 shares during the last quarter. Vanguard Group Inc. raised its stake in Manitex International by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock valued at $3,632,000 after buying an additional 9,279 shares during the last quarter. Auxier Asset Management raised its stake in Manitex International by 4.9% during the 2nd quarter. Auxier Asset Management now owns 201,881 shares of the industrial products company’s stock valued at $1,409,000 after buying an additional 9,500 shares during the last quarter. Wedbush Securities Inc. raised its stake in Manitex International by 110.5% during the 3rd quarter. Wedbush Securities Inc. now owns 30,858 shares of the industrial products company’s stock valued at $277,000 after buying an additional 16,200 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Manitex International by 16.3% during the 2nd quarter. Victory Capital Management Inc. now owns 122,120 shares of the industrial products company’s stock valued at $852,000 after buying an additional 17,080 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
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About Manitex International
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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