Vanguard Group Inc. Increases Position in Meritor, Inc. (MTOR)
Vanguard Group Inc. increased its position in Meritor, Inc. (NYSE:MTOR) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,602,537 shares of the auto parts company’s stock after purchasing an additional 447,647 shares during the quarter. Vanguard Group Inc. owned approximately 13.10% of Meritor worth $192,718,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in MTOR. BlackRock Inc. increased its position 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 worth $102,629,000 after purchasing an additional 5,964,374 shares during the period. SG Capital Management LLC acquired a new stake in Meritor in the second quarter worth about $15,727,000. Teachers Advisors LLC increased its position in Meritor by 530.2% in the first quarter. Teachers Advisors LLC now owns 900,676 shares of the auto parts company’s stock worth $15,429,000 after purchasing an additional 757,767 shares during the period. Old Mutual Global Investors UK Ltd. increased its position 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 worth $19,130,000 after purchasing an additional 599,136 shares during the period. Finally, AQR Capital Management LLC increased its position in Meritor by 72.1% in the first quarter. AQR Capital Management LLC now owns 911,590 shares of the auto parts company’s stock worth $15,616,000 after purchasing an additional 381,757 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.
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Meritor, Inc. (NYSE MTOR) opened at 26.28 on Tuesday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 4.26 and a beta of 2.30. Meritor, Inc. has a 52-week low of $9.84 and a 52-week high of $27.03. The stock’s 50 day moving average price is $23.79 and its 200 day moving average price is $18.72.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.44 by $0.20. The firm had revenue of $920.00 million during the quarter, compared to the consensus estimate of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. On average, equities analysts anticipate that Meritor, Inc. will post $1.70 earnings per share for the current fiscal year.
In other news, SVP Robert H. Speed sold 4,192 shares of the 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 sale, the senior vice president now owns 30,000 shares of the company’s stock, valued at $576,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.87% of the company’s stock.
A number of analysts recently commented on MTOR shares. BidaskClub lowered Meritor from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Meritor from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Stifel Nicolaus set a $25.00 price objective on Meritor and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. UBS AG reiterated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Meritor in a research report on Thursday, August 3rd. Finally, Barclays PLC lifted their price objective on Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average 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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