River & Mercantile Asset Management LLP acquired a new stake in Manitex International Inc (NASDAQ:MNTX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 238,569 shares of the industrial products company’s stock, valued at approximately $1,458,000. River & Mercantile Asset Management LLP owned approximately 1.21% of Manitex International at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Manitex International in the second quarter valued at $68,000. Cutter & CO Brokerage Inc. purchased a new stake in shares of Manitex International in the second quarter valued at about $77,000. Potrero Capital Research LLC purchased a new stake in shares of Manitex International in the second quarter valued at about $389,000. Paloma Partners Management Co purchased a new stake in shares of Manitex International in the second quarter valued at about $394,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Manitex International by 38.4% in the second quarter. JPMorgan Chase & Co. now owns 65,168 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 18,086 shares during the last quarter. 51.78% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Steve Filipov bought 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $5.60 per share, for a total transaction of $28,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $308,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.07% of the company’s stock.
Shares of MNTX stock traded up $0.07 on Wednesday, hitting $6.09. The stock had a trading volume of 1,080 shares, compared to its average volume of 61,601. The business has a 50 day moving average of $5.99 and a 200 day moving average of $6.49. The stock has a market cap of $120.11 million, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.91 and a beta of 1.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 0.90. Manitex International Inc has a 12-month low of $4.80 and a 12-month high of $9.83.
Manitex International (NASDAQ:MNTX) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $60.97 million during the quarter. Manitex International had a negative net margin of 2.74% and a positive return on equity of 6.11%. As a group, research analysts expect that Manitex International Inc will post 0.32 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Dougherty & Co reiterated a “buy” rating on shares of Manitex International in a report on Wednesday, August 28th.
Manitex International Profile
Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.
Read More: Correction
Want to see what other hedge funds are holding MNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manitex International Inc (NASDAQ:MNTX).
Receive News & Ratings for Manitex International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitex International and related companies with MarketBeat.com's FREE daily email newsletter.