Intrinsic Edge Capital Management LLC Purchases Shares of 259,796 Meritor, Inc. (MTOR)
Intrinsic Edge Capital Management LLC purchased a new position in shares of Meritor, Inc. (NYSE:MTOR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 259,796 shares of the auto parts company’s stock, valued at approximately $4,315,000. Meritor comprises about 1.3% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 22nd largest holding. Intrinsic Edge Capital Management LLC owned 0.29% of Meritor at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its stake in Meritor by 22,259.3% in the first quarter. BlackRock Inc. now owns 5,991,169 shares of the auto parts company’s stock valued at $102,629,000 after purchasing an additional 5,964,374 shares in the last quarter. SG Capital Management LLC bought a new stake in Meritor in the second quarter valued at approximately $15,727,000. Teachers Advisors LLC increased its stake in Meritor by 530.2% in the first quarter. Teachers Advisors LLC now owns 900,676 shares of the auto parts company’s stock valued at $15,429,000 after purchasing an additional 757,767 shares in the last quarter. Vanguard Group Inc. increased its stake in Meritor by 7.2% in the first quarter. Vanguard Group Inc. now owns 11,154,890 shares of the auto parts company’s stock valued at $191,083,000 after purchasing an additional 749,068 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Meritor by 108.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,151,730 shares of the auto parts company’s stock valued at $19,130,000 after purchasing an additional 599,136 shares in the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.
Shares of Meritor, Inc. (MTOR) traded down 1.412% during midday trading on Thursday, hitting $26.175. 279,873 shares of the stock traded hands. The firm has a 50-day moving average price of $22.15 and a 200-day moving average price of $18.22. The stock has a market capitalization of $2.32 billion, a P/E ratio of 4.246 and a beta of 2.30. Meritor, Inc. has a 52 week low of $9.84 and a 52 week high of $27.03.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.20. The company had revenue of $920.00 million for the quarter, compared to the consensus estimate of $846.19 million. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. On average, equities analysts predict that Meritor, Inc. will post $1.70 earnings per share for the current fiscal year.
In related news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total value of $80,612.16. Following the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.87% of the stock is currently owned by insiders.
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Several equities research analysts have commented on MTOR shares. BidaskClub raised shares of Meritor from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $23.00 target price on shares of Meritor in a research note on Monday, September 4th. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, July 25th. UBS AG reaffirmed a “neutral” rating and issued a $19.00 target price (up previously from $18.00) on shares of Meritor in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $25.00) on shares of Meritor in a research note on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $24.25.
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.
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