Granite Investment Partners LLC trimmed its stake in Spartan Motors, Inc. (NASDAQ:SPAR) by 34.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,070 shares of the company’s stock after selling 80,478 shares during the period. Granite Investment Partners LLC owned 0.44% of Spartan Motors worth $1,703,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SPAR. American International Group Inc. increased its stake in shares of Spartan Motors by 7.0% in the 1st quarter. American International Group Inc. now owns 20,470 shares of the company’s stock worth $164,000 after purchasing an additional 1,346 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Spartan Motors by 27.8% in the 1st quarter. TIAA CREF Investment Management LLC now owns 123,021 shares of the company’s stock worth $984,000 after buying an additional 26,780 shares during the period. Vanguard Group Inc. boosted its holdings in Spartan Motors by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,384,711 shares of the company’s stock worth $11,078,000 after buying an additional 11,102 shares during the period. Geode Capital Management LLC boosted its holdings in Spartan Motors by 13.9% in the 1st quarter. Geode Capital Management LLC now owns 283,420 shares of the company’s stock worth $2,267,000 after buying an additional 34,527 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Spartan Motors by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,890,436 shares of the company’s stock worth $23,123,000 after buying an additional 78,188 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.
Shares of Spartan Motors, Inc. (NASDAQ SPAR) remained flat at $$15.85 during midday trading on Thursday. 127,974 shares of the stock traded hands, compared to its average volume of 225,787. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $566.92, a PE ratio of 44.86, a PEG ratio of 2.66 and a beta of 1.21. Spartan Motors, Inc. has a 1-year low of $6.30 and a 1-year high of $17.20.
Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The business had revenue of $189.22 million for the quarter, compared to analysts’ expectations of $185.30 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. equities research analysts predict that Spartan Motors, Inc. will post 0.41 earnings per share for the current fiscal year.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.05 dividend. This represents a yield of 0.65%. The ex-dividend date is Tuesday, November 14th. Spartan Motors’s dividend payout ratio (DPR) is currently 24.39%.
Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Sidoti began coverage on shares of Spartan Motors in a report on Friday, December 1st. They set a “buy” rating for the company. TheStreet raised shares of Spartan Motors from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, Roth Capital increased their price objective on shares of Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $17.00.
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About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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