Meritor, Inc. (MTOR) Stake Lowered by Penn Capital Management Co. Inc.
Penn Capital Management Co. Inc. lowered its holdings in Meritor, Inc. (NYSE:MTOR) by 2.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,894 shares of the auto parts company’s stock after selling 523 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Meritor were worth $347,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Meritor by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 11,154,890 shares of the auto parts company’s stock valued at $191,083,000 after acquiring an additional 749,068 shares during the last quarter. First Trust Advisors LP grew its stake in Meritor by 240.0% during the 1st quarter. First Trust Advisors LP now owns 165,693 shares of the auto parts company’s stock worth $2,838,000 after buying an additional 116,958 shares during the last quarter. Geode Capital Management LLC grew its stake in Meritor by 6.0% during the 1st quarter. Geode Capital Management LLC now owns 678,036 shares of the auto parts company’s stock worth $11,614,000 after buying an additional 38,551 shares during the last quarter. Teachers Advisors LLC grew its stake in Meritor by 530.2% during the 1st quarter. Teachers Advisors LLC now owns 900,676 shares of the auto parts company’s stock worth $15,429,000 after buying an additional 757,767 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Meritor by 22,259.3% during the 1st quarter. BlackRock Inc. now owns 5,991,169 shares of the auto parts company’s stock worth $102,629,000 after buying an additional 5,964,374 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.
MTOR has been the topic of a number of research reports. KeyCorp restated a “buy” rating and set a $23.00 price target on shares of Meritor in a research note on Friday, September 8th. Buckingham Research initiated coverage on Meritor in a research note on Tuesday, September 5th. They set a “buy” rating and a $25.00 price target on the stock. Barclays PLC raised their price target on Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. J P Morgan Chase & Co raised their price target on Meritor from $19.00 to $21.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 12th. Finally, BidaskClub upgraded Meritor from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.25.
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Shares of Meritor, Inc. (MTOR) opened at 26.40 on Friday. Meritor, Inc. has a 52-week low of $9.84 and a 52-week high of $26.50. The firm has a market capitalization of $2.34 billion, a PE ratio of 4.28 and a beta of 2.21. The firm’s 50-day moving average price is $19.75 and its 200-day moving average price is $17.46.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.20. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The company had revenue of $920.00 million during the quarter, compared to analyst estimates of $846.19 million. During the same period in the prior year, the company earned $0.57 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Meritor, Inc. will post $1.70 earnings per share for the current fiscal year.
In related news, SVP Robert H. Speed sold 4,192 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.87% of the company’s stock.
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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