Cortina Asset Management LLC increased its holdings in Meritor Inc (NYSE:MTOR) by 101.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 277,956 shares of the auto parts company’s stock after acquiring an additional 140,209 shares during the period. Cortina Asset Management LLC owned approximately 0.32% of Meritor worth $5,718,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MTOR. BlackRock Inc. raised its stake in Meritor by 4.1% in the second quarter. BlackRock Inc. now owns 6,259,900 shares of the auto parts company’s stock valued at $128,766,000 after buying an additional 246,024 shares in the last quarter. GAM Holding AG acquired a new stake in Meritor in the second quarter valued at $253,000. Royce & Associates LP raised its stake in Meritor by 44.4% in the second quarter. Royce & Associates LP now owns 1,796,009 shares of the auto parts company’s stock valued at $36,944,000 after buying an additional 551,936 shares in the last quarter. Martingale Asset Management L P raised its stake in Meritor by 34.2% in the second quarter. Martingale Asset Management L P now owns 88,263 shares of the auto parts company’s stock valued at $1,816,000 after buying an additional 22,514 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. purchased a new position in shares of Meritor during the second quarter worth about $1,936,000. Institutional investors own 90.96% of the company’s stock.
NYSE MTOR opened at $21.69 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.70 and a current ratio of 1.15. Meritor Inc has a 52-week low of $17.28 and a 52-week high of $29.54. The stock has a market cap of $1.93 billion, a P/E ratio of 11.54 and a beta of 2.43.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. Meritor had a return on equity of 88.32% and a net margin of 8.06%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. analysts predict that Meritor Inc will post 2.96 earnings per share for the current fiscal year.
In related news, CEO Jeffrey A. Craig sold 34,678 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $21.84, for a total transaction of $757,367.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.32% of the company’s stock.
MTOR has been the topic of several research reports. TheStreet raised Meritor from a “c+” rating to a “b-” rating in a report on Friday, August 24th. Stifel Nicolaus set a $29.00 price objective on Meritor and gave the stock a “buy” rating in a report on Wednesday, August 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $37.00 price objective on shares of Meritor in a report on Wednesday, August 1st. Barclays raised their price objective on Meritor from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, August 2nd. Finally, ValuEngine lowered Meritor from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $28.68.
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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