Brandywine Global Investment Management LLC cut its position in Meritor, Inc. (NYSE:MTOR) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 317,368 shares of the auto parts company’s stock after selling 24,813 shares during the period. Brandywine Global Investment Management LLC owned 0.36% of Meritor worth $7,446,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in MTOR. Rothschild Asset Management Inc. purchased a new stake in shares of Meritor in the 3rd quarter valued at approximately $37,927,000. Hennessy Advisors Inc. increased its position in shares of Meritor by 480.4% in the 4th quarter. Hennessy Advisors Inc. now owns 1,415,600 shares of the auto parts company’s stock valued at $33,210,000 after purchasing an additional 1,171,700 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Meritor by 340.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 815,739 shares of the auto parts company’s stock valued at $21,218,000 after purchasing an additional 630,702 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Meritor in the 4th quarter valued at $14,667,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Meritor in the 3rd quarter valued at $13,493,000. 93.48% of the stock is currently owned by institutional investors.
In other news, SVP Chris Villavarayan sold 18,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $28.61, for a total value of $514,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph A. Plomin sold 15,826 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $25.64, for a total transaction of $405,778.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 238,826 shares of company stock valued at $6,439,309. 2.32% of the stock is owned by company insiders.
Several research analysts have recently issued reports on MTOR shares. Piper Jaffray upgraded shares of Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Friday, December 8th. Zacks Investment Research upgraded shares of Meritor from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 31st. Barclays upped their target price on shares of Meritor from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. ValuEngine cut shares of Meritor from a “strong-buy” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Longbow Research upgraded shares of Meritor from a “neutral” rating to a “buy” rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.95.
NYSE:MTOR traded down $1.01 during trading hours on Friday, reaching $20.22. 664,555 shares of the company’s stock were exchanged, compared to its average volume of 1,114,327. The stock has a market cap of $1,893.39, a P/E ratio of 10.76 and a beta of 2.57. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.17 and a quick ratio of 0.69. Meritor, Inc. has a 1-year low of $14.97 and a 1-year high of $29.54.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.16. The firm had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $836.28 million. Meritor had a net margin of 7.69% and a return on equity of 208.74%. Meritor’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. sell-side analysts expect that Meritor, Inc. will post 2.71 EPS for the current fiscal year.
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Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket & Trailer.
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