Cortina Asset Management LLC boosted its holdings in shares of Meritor Inc (NYSE:MTOR) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 406,333 shares of the auto parts company’s stock after purchasing an additional 50,672 shares during the period. Cortina Asset Management LLC owned approximately 0.49% of Meritor worth $9,854,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MTOR. Quantamental Technologies LLC raised its holdings in shares of Meritor by 84.1% during the first quarter. Quantamental Technologies LLC now owns 2,629 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,201 shares during the period. Investors Research Corp acquired a new stake in shares of Meritor during the first quarter valued at approximately $60,000. Advisors Preferred LLC acquired a new stake in shares of Meritor during the first quarter valued at approximately $76,000. New York State Teachers Retirement System acquired a new stake in shares of Meritor during the first quarter valued at approximately $98,000. Finally, Anderson Fisher LLC acquired a new stake in shares of Meritor during the first quarter valued at approximately $107,000. 95.17% of the stock is owned by institutional investors and hedge funds.
Meritor stock traded up $0.91 during trading hours on Tuesday, hitting $24.02. The company had a trading volume of 575,126 shares, compared to its average volume of 869,418. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 7.93 and a beta of 2.23. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 1.66. The company’s fifty day moving average is $23.07. Meritor Inc has a fifty-two week low of $15.01 and a fifty-two week high of $25.78.
Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.16. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.11 billion. Meritor had a net margin of 5.86% and a return on equity of 89.66%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. As a group, analysts expect that Meritor Inc will post 3.55 EPS for the current year.
A number of research firms have recently issued reports on MTOR. Stifel Nicolaus boosted their price target on shares of Wayfair from $132.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Longbow Research lowered shares of Rush Enterprises from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. Finally, Barclays restated a “sell” rating and set a $57.00 price target on shares of Autoliv in a report on Sunday, March 31st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.63.
In other Meritor news, Director Rodger L. Boehm purchased 2,000 shares of the company’s stock in a transaction dated 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Chris Villavarayan sold 21,723 shares of the stock in a transaction 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. 2.80% of the stock is currently owned by corporate insiders.
Meritor Company 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; and Aftermarket, Industrial and Trailer.
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