All things considered, Manitex’s (MNTX) performance over the past year has been pretty good. This small heavy machinery manufacturer certainly hasn’t been immune to the wider supply chain challenges hitting the sector, but these shares are basically flat since my last article, outperforming a host of heavy machinery comps like Caterpillar (CAT), CNH Industrial (CNHI), Deere (DE), Manitowoc (MTW), Oshkosh (OSK), and Terex (TEX), though underperforming the S&P 500 and Russell 3000.
The weakness across the sector is interesting, with equipment inventories (new and used) running low and likely demand acceleration in the coming years on renewed construction activity and the longer-term benefits of the infrastructure bill. Manitex still has a lot to prove, but management seems to have the company on a better path where strategy and operational execution are concerned, and I think this is still a name worth watching.
Read the full article at Seeking Alpha:
Manitex Likely To See Some Short-Term Pain, But Long-Term Gains Still In Play
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