Beddow Capital Management Inc Lowers stake in Manitex International Inc (MNTX)

Manitex International Inc (MNTX) : Beddow Capital Management Inc reduced its stake in Manitex International Inc by 16.36% during the most recent quarter end. The investment management company now holds a total of 910,796 shares of Manitex International Inc which is valued at $5,218,861 after selling 178,109 shares in Manitex International Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Manitex International Inc makes up approximately 1.98% of Beddow Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Pacific Ridge Capital Partners reduced its stake in MNTX by selling 18,320 shares or 5.06% in the most recent quarter. The Hedge Fund company now holds 343,622 shares of MNTX which is valued at $1,968,954. Manitex International Inc makes up approx 0.83% of Pacific Ridge Capital Partners’s portfolio.Vanguard Group Inc boosted its stake in MNTX in the latest quarter, The investment management firm added 18,161 additional shares and now holds a total of 455,503 shares of Manitex International Inc which is valued at $2,610,032.

Manitex International Inc opened for trading at $5.87 and hit $6.06 on the upside on Tuesday, eventually ending the session at $6.05, with a gain of 3.60% or 0.21 points. The heightened volatility saw the trading volume jump to 80,383 shares. Company has a market cap of $98 M.

On the company’s financial health, Manitex International Inc reported $0.02 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.02. The company had revenue of $96.30 million for the quarter, compared to analysts expectations of $98.60 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.

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 ASV segment and the Equipment Distribution segment. In the Lifting Equipment segment the Company designs manufactures and distributes a diverse group of products that serve different functions and are used in a range of industries. In the ASV segment the Company manufactures a line of compact rubber tracked and skid steer loaders. In the Equipment Distribution segment the Company markets products used primarily for infrastructure development and commercial construction applications that include road and bridge construction general contracting roofing scrap handling and sign construction and maintenance.

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