Manitex International (NASDAQ:MNTX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
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 Manitex International from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Tuesday, November 7th.
A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Manitex International by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock valued at $911,000 after purchasing an additional 4,176 shares during the period. Vanguard Group Inc. boosted its holdings in Manitex International by 1.8% in the second quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock valued at $3,632,000 after purchasing an additional 9,279 shares during the period. Auxier Asset Management boosted its holdings in Manitex International by 4.9% in the second quarter. Auxier Asset Management now owns 201,881 shares of the industrial products company’s stock valued at $1,409,000 after purchasing an additional 9,500 shares during the period. Wedbush Securities Inc. boosted its holdings in Manitex International by 110.5% in the third quarter. Wedbush Securities Inc. now owns 30,858 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 16,200 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Manitex International by 16.3% in the second quarter. Victory Capital Management Inc. now owns 122,120 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 17,080 shares during the period. Hedge funds and other institutional investors own 65.29% 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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