Old Mutual Global Investors UK Ltd. Has $27.08 Million Position in Meritor, Inc. (MTOR)
Old Mutual Global Investors UK Ltd. reduced its position in shares of Meritor, Inc. (NYSE:MTOR) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,041,039 shares of the auto parts company’s stock after selling 110,691 shares during the period. Old Mutual Global Investors UK Ltd. owned about 1.18% of Meritor worth $27,077,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its holdings in Meritor by 11.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 86,066 shares of the auto parts company’s stock valued at $2,239,000 after purchasing an additional 8,951 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Meritor by 1.4% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,842,852 shares of the auto parts company’s stock valued at $47,933,000 after purchasing an additional 25,979 shares during the last quarter. Nine Chapters Capital Management LLC bought a new position in Meritor during the 3rd quarter valued at about $419,000. Rosenblum Silverman Sutton S F Inc. CA bought a new position in Meritor during the 3rd quarter valued at about $1,135,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Meritor during the 3rd quarter valued at about $16,311,000. 93.17% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. Barclays PLC set a $22.00 price target on shares of Meritor and gave the company a “hold” rating in a report on Friday, October 20th. UBS AG raised their price objective on shares of Meritor from $19.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Longbow Research cut shares of Meritor from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. BidaskClub upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 22nd. Finally, KeyCorp restated a “buy” rating and issued a $37.00 price objective (up previously from $23.00) on shares of Meritor in a research report on Tuesday, September 19th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.05.
Meritor, Inc. (MTOR) traded down $0.53 on Tuesday, reaching $26.22. 1,326,658 shares of the company’s stock traded hands, compared to its average volume of 1,145,227. Meritor, Inc. has a 52-week low of $9.89 and a 52-week high of $27.96. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of -19.50. The firm has a market cap of $2,369.14, a PE ratio of 16.93 and a beta of 2.34.
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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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