Martingale Asset Management L P Acquires 8,299 Shares of Meritor, Inc. (MTOR)
Martingale Asset Management L P increased its holdings in shares of Meritor, Inc. (NYSE:MTOR) by 16.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,720 shares of the auto parts company’s stock after purchasing an additional 8,299 shares during the period. Martingale Asset Management L P owned 0.07% of Meritor worth $959,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in Meritor during the 1st quarter worth $116,000. New York State Teachers Retirement System boosted its stake in Meritor by 1.4% during the 1st quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock worth $125,000 after purchasing an additional 100 shares during the period. Federated Investors Inc. PA boosted its stake in Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after purchasing an additional 1,491 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Meritor during the 2nd quarter worth $186,000. Finally, Fox Run Management L.L.C. acquired a new stake in Meritor during the 2nd quarter worth $188,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.
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Shares of Meritor, Inc. (MTOR) opened at 26.40 on Monday. The stock has a 50 day moving average of $19.75 and a 200 day moving average of $17.46. The firm has a market cap of $2.34 billion, a PE ratio of 4.28 and a beta of 2.21. Meritor, Inc. has a 1-year low of $9.84 and a 1-year high of $26.50.
Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The company had revenue of $920.00 million during the quarter, compared to the consensus estimate of $846.19 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Meritor, Inc. will post $1.70 earnings per share for the current fiscal year.
MTOR has been the subject of a number of recent research reports. KeyCorp reiterated 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 shares of Meritor in a research note on Tuesday, September 5th. They set a “buy” rating and a $25.00 price target for the company. Barclays PLC increased their price target on shares of 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 increased their price target on shares of 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 shares of Meritor from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Meritor presently has a consensus rating of “Buy” and a consensus target price of $24.25.
In other news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the transaction, the senior vice president now owns 30,000 shares of the company’s stock, valued at $576,900. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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