Convergence Investment Partners LLC Has $1.58 Million Position in Meritor, Inc. (NYSE:MTOR)
Convergence Investment Partners LLC reduced its position in shares of Meritor, Inc. (NYSE:MTOR) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 95,031 shares of the auto parts company’s stock after selling 2,340 shares during the period. Convergence Investment Partners LLC’s holdings in Meritor were worth $1,578,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after buying an additional 100 shares in the last quarter. Bank of Montreal Can raised its position in shares of Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock valued at $196,000 after buying an additional 289 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Meritor by 2.3% in the first quarter. Public Employees Retirement System of Ohio now owns 39,952 shares of the auto parts company’s stock valued at $684,000 after buying an additional 917 shares in the last quarter. Aperio Group LLC raised its position in shares of Meritor by 4.1% in the second quarter. Aperio Group LLC now owns 43,462 shares of the auto parts company’s stock valued at $722,000 after buying an additional 1,700 shares in the last quarter. Finally, Strs Ohio increased its position in Meritor by 6.2% in the second quarter. Strs Ohio now owns 60,200 shares of the auto parts company’s stock valued at $999,000 after buying an additional 3,500 shares during the last quarter. 93.05% of the stock is currently owned by institutional investors.
Shares of Meritor, Inc. (NYSE:MTOR) opened at 19.08 on Tuesday. The stock has a 50 day moving average of $17.61 and a 200 day moving average of $16.66. The stock has a market cap of $1.69 billion, a P/E ratio of 3.09 and a beta of 2.22. Meritor, Inc. has a one year low of $9.84 and a one year high of $19.61.
Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.20. The firm had revenue of $920 million during the quarter, compared to analyst estimates of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. Meritor’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. On average, analysts forecast that Meritor, Inc. will post $1.69 EPS for the current year.
Several research analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Meritor in a report on Monday, May 15th. They set an “outperform” rating and a $22.00 price objective on the stock. BidaskClub downgraded shares of Meritor from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Meritor from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Stifel Nicolaus set a $25.00 price objective on shares of Meritor and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Barclays PLC upped their price objective on shares of Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $19.57.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the transaction, the senior vice president now owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.87% of the stock is currently owned by insiders.
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
Want to see what other hedge funds are holding MTOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritor, Inc. (NYSE:MTOR).
Receive News & Ratings for Meritor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.