Alambic Investment Management L.P. lowered its stake in Meritor Inc (NYSE:MTOR) by 65.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 102,342 shares of the auto parts company’s stock after selling 194,658 shares during the quarter. Alambic Investment Management L.P.’s holdings in Meritor were worth $2,105,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in Meritor by 0.6% in the first quarter. Northern Trust Corp now owns 990,689 shares of the auto parts company’s stock worth $20,368,000 after purchasing an additional 5,486 shares during the period. Russell Investments Group Ltd. lifted its holdings in Meritor by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 393,566 shares of the auto parts company’s stock worth $8,091,000 after purchasing an additional 5,797 shares during the period. New York State Teachers Retirement System acquired a new stake in Meritor in the first quarter worth about $154,000. First Mercantile Trust Co. lifted its holdings in Meritor by 87.9% in the first quarter. First Mercantile Trust Co. now owns 20,707 shares of the auto parts company’s stock worth $426,000 after purchasing an additional 9,688 shares during the period. Finally, Eqis Capital Management Inc. acquired a new stake in Meritor in the second quarter worth about $203,000. 90.96% of the stock is owned by institutional investors and hedge funds.
Shares of Meritor stock opened at $21.36 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 2.41. Meritor Inc has a 52 week low of $17.28 and a 52 week high of $29.54. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.15 and a beta of 2.41.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.78 by $0.11. Meritor had a net margin of 8.06% and a return on equity of 88.32%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned $0.64 earnings per share. Meritor’s revenue for the quarter was up 22.7% compared to the same quarter last year. analysts predict that Meritor Inc will post 2.96 earnings per share for the current year.
MTOR has been the topic of several research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $37.00 price target on shares of Meritor in a research report on Wednesday, August 1st. TheStreet upgraded shares of Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. ValuEngine cut shares of Meritor from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Stifel Nicolaus set a $29.00 price target on shares of Meritor and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $28.68.
In other Meritor news, CEO Jeffrey A. Craig sold 34,678 shares of the business’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 filing with the SEC, which is available at this hyperlink. 2.32% of the stock is currently owned by insiders.
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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