Quantitative Systematic Strategies LLC Boosts Position in Meritor Inc. (MTOR)
Quantitative Systematic Strategies LLC raised its stake in shares of Meritor Inc. (NYSE:MTOR) by 39.2% during the second quarter, Holdings Channel reports. The firm owned 26,396 shares of the company’s stock after buying an additional 7,438 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Meritor were worth $185,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Anchor Bolt Capital LP raised its stake in shares of Meritor by 33.5% in the first quarter. Anchor Bolt Capital LP now owns 5,166,894 shares of the company’s stock valued at $41,645,000 after buying an additional 1,297,532 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Meritor by 23.2% in the first quarter. JPMorgan Chase & Co. now owns 1,870,140 shares of the company’s stock valued at $15,073,000 after buying an additional 352,679 shares during the period. Royce & Associates LP raised its stake in shares of Meritor by 20.1% in the first quarter. Royce & Associates LP now owns 735,581 shares of the company’s stock valued at $5,929,000 after buying an additional 123,000 shares during the period. ClariVest Asset Management LLC raised its stake in shares of Meritor by 8.2% in the second quarter. ClariVest Asset Management LLC now owns 347,829 shares of the company’s stock valued at $2,504,000 after buying an additional 26,500 shares during the period. Finally, UBS Group AG raised its stake in shares of Meritor by 1,006.6% in the first quarter. UBS Group AG now owns 121,209 shares of the company’s stock valued at $977,000 after buying an additional 110,256 shares during the period. Institutional investors own 91.01% of the company’s stock.
Meritor Inc. (NYSE:MTOR) traded down 1.03% during trading on Monday, hitting $10.62. 556,968 shares of the stock traded hands. Meritor Inc. has a 52-week low of $5.69 and a 52-week high of $11.70. The stock has a 50 day moving average price of $10.92 and a 200-day moving average price of $9.14. The stock has a market cap of $921.42 million, a P/E ratio of 12.89 and a beta of 2.53.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.14. The firm earned $841 million during the quarter, compared to analyst estimates of $841.79 million. Meritor had a net margin of 2.35% and a negative return on equity of 25.32%. Meritor’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. On average, analysts anticipate that Meritor Inc. will post $1.60 EPS for the current fiscal year.
MTOR has been the subject of several recent research reports. Citigroup Inc. boosted their target price on shares of Meritor from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Zacks Investment Research lowered shares of Meritor from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Longbow Research set a $14.00 price target on shares of Meritor and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Finally, Piper Jaffray Cos. lowered shares of Meritor from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $6.50 to $6.00 in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Meritor has a consensus rating of “Hold” and a consensus price target of $9.20.
Meritor, Inc is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Company’s segments include commercial truck and industrial, and aftermarket and trailer.
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