Empowered Funds LLC Takes Position in Manitex International, Inc. (NASDAQ:MNTX)

Empowered Funds LLC purchased a new position in Manitex International, Inc. (NASDAQ:MNTX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 85,320 shares of the industrial products company’s stock, valued at approximately $480,000. Empowered Funds LLC owned approximately 0.42% of Manitex International at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC increased its holdings in shares of Manitex International by 0.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock worth $4,064,000 after purchasing an additional 2,871 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Manitex International by 2.9% in the 2nd 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. Ancora Advisors LLC raised its position in Manitex International by 95.1% in the 1st quarter. Ancora Advisors LLC now owns 172,429 shares of the industrial products company’s stock worth $1,183,000 after buying an additional 84,029 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Manitex International by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after acquiring an additional 16,433 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of 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 valued at $462,000 after acquiring an additional 64,187 shares during the last quarter. 46.01% of the stock is owned by hedge funds and other institutional investors.

Manitex International Stock Performance

Shares of NASDAQ MNTX opened at $5.74 on Monday. Manitex International, Inc. has a 12-month low of $3.07 and a 12-month high of $9.16. The firm has a market capitalization of $117.10 million, a price-to-earnings ratio of 12.48 and a beta of 0.77. The company has a current ratio of 1.64, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $5.68 and a 200 day moving average of $5.17.

Analyst Upgrades and Downgrades

A number of research firms have commented on MNTX. Northland Securities reaffirmed a “market perform” rating and issued a $5.80 target price (down previously from $8.00) on shares of Manitex International in a research report on Friday, September 13th. Northland Capmk cut Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, StockNews.com initiated coverage on Manitex International in a report on Tuesday, November 19th. They issued a “hold” rating on the stock.

Manitex International 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.