Towle & Co. lessened its position in Meritor, Inc. (NYSE:MTOR) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,569,772 shares of the auto parts company’s stock after selling 511,757 shares during the period. Meritor comprises 7.1% of Towle & Co.’s portfolio, making the stock its 2nd largest holding. Towle & Co. owned approximately 2.90% of Meritor worth $66,840,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of MTOR. Ameritas Investment Partners Inc. boosted its stake in shares of Meritor by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock valued at $122,000 after purchasing an additional 596 shares during the period. New York State Teachers Retirement System grew its position in Meritor by 1.4% in the 1st quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after buying an additional 100 shares in the last quarter. Federated Investors Inc. PA grew its position in Meritor by 21.2% in the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock valued at $141,000 after buying an additional 1,491 shares in the last quarter. Amalgamated Bank grew its position in Meritor by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock valued at $176,000 after buying an additional 281 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Meritor during the 2nd quarter valued at about $186,000. 93.17% of the stock is owned by institutional investors and hedge funds.
Shares of Meritor, Inc. (MTOR) traded up $0.31 during midday trading on Friday, reaching $25.89. The company’s stock had a trading volume of 916,900 shares, compared to its average volume of 1,179,088. The firm has a market cap of $2,292.97, a price-to-earnings ratio of 16.39 and a beta of 2.34. Meritor, Inc. has a 52-week low of $11.30 and a 52-week high of $27.96. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of -19.50.
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A number of analysts have recently issued reports on MTOR shares. Royal Bank Of Canada reissued a “buy” rating and issued a $23.00 price target on shares of Meritor in a research report on Monday, September 4th. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, July 25th. Barclays PLC set a $22.00 price target on shares of Meritor and gave the company a “hold” rating in a research report on Friday, October 20th. UBS AG reissued a “neutral” rating and issued a $19.00 price target (up previously from $18.00) on shares of Meritor in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Meritor in a research note on Tuesday, September 12th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Meritor currently has an average rating of “Buy” and an average price target of $25.05.
Meritor Company Profile
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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