Cutter & CO Brokerage Inc. Grows Stock Holdings in Manitex International, Inc. (NASDAQ:MNTX)

Cutter & CO Brokerage Inc. raised its position in Manitex International, Inc. (NASDAQ:MNTX) by 123.7% during the third quarter, Holdings Channel.com reports. The fund owned 49,350 shares of the industrial products company’s stock after purchasing an additional 27,291 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Manitex International were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Pacific Ridge Capital Partners LLC increased its position in shares of Manitex International by 0.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock valued at $4,064,000 after acquiring an additional 2,871 shares during the period. Marshall Wace LLP purchased a new position in shares of Manitex International in the second quarter valued at about $128,000. First Eagle Investment Management LLC increased its position in shares of Manitex International by 2.9% during the second quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 8,500 shares during the period. Renaissance Technologies LLC increased its position in shares of Manitex International by 13.1% during the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after buying an additional 16,433 shares during the period. Finally, Ancora Advisors LLC increased its position in shares of Manitex International by 95.1% during the first quarter. Ancora Advisors LLC now owns 172,429 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 84,029 shares during the period. Hedge funds and other institutional investors own 46.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Northland Securities reiterated a “market perform” rating and set a $5.80 price target (down previously from $8.00) on shares of Manitex International in a research report on Friday, September 13th. Northland Capmk cut shares of Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, StockNews.com assumed coverage on shares of Manitex International in a research report on Saturday. They set a “hold” rating on the stock.

Manitex International Stock Performance

MNTX remained flat at $5.70 during midday trading on Tuesday. 17,978 shares of the company’s stock were exchanged, compared to its average volume of 139,420. The company has a market capitalization of $116.28 million, a price-to-earnings ratio of 10.96 and a beta of 0.76. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.55 and a quick ratio of 0.67. Manitex International, Inc. has a twelve month low of $3.07 and a twelve month high of $9.16. The company’s 50-day simple moving average is $5.10 and its 200-day simple moving average is $5.17.

Manitex International (NASDAQ:MNTX) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $76.24 million for the quarter, compared to analysts’ expectations of $75.23 million. Manitex International had a net margin of 3.56% and a return on equity of 18.79%. As a group, equities research analysts forecast that Manitex International, Inc. will post 0.33 earnings per share for the current fiscal year.

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.