Royce & Associates LP cut its stake in Meritor, Inc. (NYSE:MTOR) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 994,262 shares of the auto parts company’s stock after selling 58,416 shares during the period. Royce & Associates LP owned approximately 1.37% of Meritor worth $27,750,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MTOR. CWM LLC increased its holdings in shares of Meritor by 117.2% during the 3rd quarter. CWM LLC now owns 1,853 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 1,000 shares during the period. Nisa Investment Advisors LLC grew its position in Meritor by 209.2% during the third quarter. Nisa Investment Advisors LLC now owns 2,365 shares of the auto parts company’s stock worth $50,000 after buying an additional 1,600 shares in the last quarter. SG Americas Securities LLC bought a new position in Meritor during the fourth quarter valued at about $171,000. Assenagon Asset Management S.A. bought a new position in Meritor during the fourth quarter valued at about $204,000. Finally, CIBC Asset Management Inc acquired a new position in Meritor in the 4th quarter valued at approximately $261,000. Institutional investors own 95.83% of the company’s stock.
MTOR has been the topic of a number of research reports. TheStreet upgraded Meritor from a “c” rating to a “b-” rating in a research note on Thursday, November 12th. KeyCorp increased their price objective on shares of Meritor from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Meritor has an average rating of “Buy” and an average target price of $26.00.
In other Meritor news, CEO Jeffrey A. Craig sold 199,570 shares of the company’s stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $31.84, for a total transaction of $6,354,308.80. Following the transaction, the chief executive officer now directly owns 38,540 shares in the company, valued at approximately $1,227,113.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Carl Douglas Anderson II sold 1,917 shares of the firm’s stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $26.67, for a total transaction of $51,126.39. Over the last ninety days, insiders sold 433,665 shares of company stock valued at $13,281,274. Insiders own 2.70% of the company’s stock.
Shares of MTOR stock opened at $32.44 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.77 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $2.35 billion, a P/E ratio of 10.17 and a beta of 2.19. Meritor, Inc. has a 12-month low of $10.91 and a 12-month high of $33.56. The firm has a 50-day moving average price of $28.93 and a 200 day moving average price of $26.15.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, February 3rd. The auto parts company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.21. The firm had revenue of $889.00 million during the quarter, compared to analysts’ expectations of $870.00 million. Meritor had a return on equity of 19.93% and a net margin of 8.02%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, research analysts expect that Meritor, Inc. will post 1.77 earnings per share for the current year.
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; and Aftermarket and Industrial.
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