Los Angeles Capital Management & Equity Research Inc. Buys Shares of 43,210 Meritor Inc (MTOR)

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Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Meritor Inc (NYSE:MTOR) in the 1st quarter, HoldingsChannel.com reports. The fund bought 43,210 shares of the auto parts company’s stock, valued at approximately $879,000.

A number of other large investors have also bought and sold shares of MTOR. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Meritor by 8.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 14,047 shares of the auto parts company’s stock worth $238,000 after purchasing an additional 1,060 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Meritor by 67.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 46,906 shares of the auto parts company’s stock worth $793,000 after purchasing an additional 18,847 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Meritor by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,310,383 shares of the auto parts company’s stock worth $25,369,000 after purchasing an additional 60,557 shares during the last quarter. ICM Asset Management Inc. WA boosted its stake in shares of Meritor by 32.5% during the 4th quarter. ICM Asset Management Inc. WA now owns 213,150 shares of the auto parts company’s stock worth $3,604,000 after purchasing an additional 52,300 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Meritor by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,178,177 shares of the auto parts company’s stock worth $36,833,000 after purchasing an additional 87,188 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

MTOR opened at $21.98 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.68 and a current ratio of 1.15. Meritor Inc has a 1 year low of $15.01 and a 1 year high of $25.78. The company has a market capitalization of $1.84 billion, a P/E ratio of 7.25 and a beta of 2.15.

Meritor (NYSE:MTOR) last released its earnings results on Wednesday, May 1st. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.16. Meritor had a net margin of 5.86% and a return on equity of 89.66%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Meritor Inc will post 3.54 EPS for the current year.

In related news, SVP Timothy J. Heffron sold 36,940 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $22.00, for a total value of $812,680.00. Following the sale, the senior vice president now directly owns 31,741 shares of the company’s stock, valued at $698,302. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Chris Villavarayan sold 21,723 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.21, for a total transaction of $504,190.83. The disclosure for this sale can be found here. Insiders sold 92,909 shares of company stock worth $2,046,653 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Several equities research analysts have issued reports on MTOR shares. Royal Bank of Canada cut shares of Meritor from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $18.00 to $19.00 in a research note on Wednesday, January 23rd. Barclays reaffirmed a “hold” rating and set a $21.00 price target on shares of Meritor in a research note on Sunday, March 31st. Longbow Research cut shares of Meritor from a “buy” rating to a “neutral” rating and set a $23.42 price target on the stock. in a research note on Monday, May 6th. Stifel Nicolaus set a $29.00 price target on shares of Meritor and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Meritor currently has an average rating of “Hold” and a consensus target price of $25.63.

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Meritor Profile

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 & Trailer; and Aftermarket & Industrial.

Further Reading: Oversold

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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