Cooper Creek Partners Management LLC purchased a new stake in shares of Meritor Inc (NYSE:MTOR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 432,317 shares of the auto parts company’s stock, valued at approximately $8,798,000. Meritor accounts for approximately 3.0% of Cooper Creek Partners Management LLC’s investment portfolio, making the stock its 9th largest position.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Meritor in the fourth quarter valued at about $17,742,000. Westfield Capital Management Co. LP purchased a new position in shares of Meritor in the first quarter valued at about $21,010,000. Royce & Associates LP lifted its position in shares of Meritor by 31.0% in the fourth quarter. Royce & Associates LP now owns 3,002,859 shares of the auto parts company’s stock valued at $50,778,000 after acquiring an additional 711,396 shares in the last quarter. Towle & Co. lifted its position in shares of Meritor by 38.8% in the fourth quarter. Towle & Co. now owns 2,327,558 shares of the auto parts company’s stock valued at $39,359,000 after acquiring an additional 651,055 shares in the last quarter. Finally, Anchor Bolt Capital LP purchased a new position in shares of Meritor in the fourth quarter valued at about $10,003,000. 95.02% of the stock is owned by institutional investors and hedge funds.
In other Meritor news, SVP Chris Villavarayan sold 21,723 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rodger L. Boehm acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $21.00 per share, for a total transaction of $42,000.00. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.
Shares of NYSE:MTOR traded down $0.49 during mid-day trading on Friday, reaching $22.71. The stock had a trading volume of 578,409 shares, compared to its average volume of 740,958. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $1.90 billion, a P/E ratio of 7.50 and a beta of 2.16. Meritor Inc has a 1 year low of $15.01 and a 1 year high of $25.78.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, May 1st. The auto parts company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.11 billion. Meritor had a return on equity of 89.66% and a net margin of 5.86%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. On average, research analysts forecast that Meritor Inc will post 3.54 earnings per share for the current year.
MTOR has been the topic of several research analyst reports. Barclays restated a “hold” rating and issued a $21.00 price objective on shares of Meritor in a research report on Sunday, March 31st. Longbow Research downgraded Meritor from a “buy” rating to a “neutral” rating and set a $23.42 price objective on the stock. in a research report on Monday, May 6th. Stifel Nicolaus set a $29.00 price objective on Meritor and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research downgraded Meritor from a “strong-buy” rating to a “hold” rating in a research report 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. The company presently has an average rating of “Hold” and an average target price of $25.63.
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, Industrial and Trailer.
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