Spartan Motors, Inc. (SPAR) Shares Sold by Granite Investment Partners LLC
Granite Investment Partners LLC reduced its holdings in Spartan Motors, Inc. (NASDAQ:SPAR) by 34.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,070 shares of the company’s stock after selling 80,478 shares during the quarter. Granite Investment Partners LLC owned approximately 0.44% of Spartan Motors worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. boosted its position in shares of Spartan Motors by 7.0% in the first quarter. American International Group Inc. now owns 20,470 shares of the company’s stock worth $164,000 after buying an additional 1,346 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in Spartan Motors by 0.8% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 256,550 shares of the company’s stock valued at $2,270,000 after acquiring an additional 2,000 shares during the period. Eqis Capital Management Inc. boosted its stake in shares of Spartan Motors by 16.4% during the 2nd quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock worth $158,000 after acquiring an additional 2,513 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Spartan Motors by 12.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock worth $205,000 after buying an additional 2,776 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Spartan Motors by 18.9% in the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock worth $170,000 after buying an additional 3,049 shares during the period. Hedge funds and other institutional investors own 64.75% of the company’s stock.
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Spartan Motors, Inc. (NASDAQ:SPAR) traded down $0.20 during trading on Wednesday, reaching $15.40. 219,400 shares of the company’s stock traded hands, compared to its average volume of 224,548. Spartan Motors, Inc. has a 52-week low of $6.30 and a 52-week high of $17.20. The company has a market cap of $547.61, a PE ratio of 43.33, a P/E/G ratio of 2.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.70.
Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The company had revenue of $189.22 million during the quarter, compared to analyst estimates of $185.30 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 27.3% on a year-over-year basis. equities analysts forecast that Spartan Motors, Inc. will post 0.41 EPS for the current year.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.05 per share. This represents a dividend yield of 0.65%. The ex-dividend date is Tuesday, November 14th. Spartan Motors’s dividend payout ratio is currently 24.39%.
Several analysts recently issued reports on the company. BidaskClub lowered Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Roth Capital lifted their target price on shares of Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, TheStreet cut shares of Spartan Motors from a “b-” rating to a “c+” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.00.
Spartan Motors Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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