Meritor Sees Unusually Large Options Volume (MTOR)

Meritor Inc (NYSE:MTOR) was the target of some unusual options trading on Wednesday. Stock investors acquired 4,076 call options on the company. This is an increase of 1,462% compared to the average daily volume of 261 call options.

In related news, VP Paul Bialy sold 2,191 shares of Meritor stock in a transaction on Monday, December 4th. The stock was sold at an average price of $24.64, for a total value of $53,986.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey A. Craig sold 67,005 shares of Meritor stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.63, for a total value of $1,650,333.15. The disclosure for this sale can be found here. Insiders sold 146,290 shares of company stock valued at $3,549,231 over the last ninety days. Insiders own 2.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MTOR. Schwab Charles Investment Management Inc. lifted its holdings in Meritor by 7.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 594,077 shares of the auto parts company’s stock worth $9,868,000 after buying an additional 41,624 shares during the last quarter. KBC Group NV purchased a new stake in Meritor during the 2nd quarter worth about $758,000. Marshall Wace North America L.P. purchased a new stake in Meritor during the 2nd quarter worth about $1,232,000. Federated Investors Inc. PA lifted its holdings in Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after buying an additional 1,491 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Meritor during the 2nd quarter worth about $277,000. 95.54% of the stock is owned by institutional investors.

Shares of Meritor (NYSE:MTOR) opened at $24.12 on Friday. The stock has a market capitalization of $2,150.00, a PE ratio of 6.63 and a beta of 2.29. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 2.55. Meritor has a fifty-two week low of $12.82 and a fifty-two week high of $27.96.

Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. The company had revenue of $922.00 million during the quarter, compared to the consensus estimate of $836.39 million. Meritor had a negative return on equity of 1,152.54% and a net margin of 9.68%. Meritor’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. sell-side analysts predict that Meritor will post 2.43 earnings per share for the current fiscal year.

MTOR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Meritor from $19.00 to $21.50 and gave the company a “neutral” rating in a report on Tuesday, September 12th. Citigroup reiterated a “neutral” rating and issued a $22.00 target price (up from $19.00) on shares of Meritor in a report on Tuesday, September 12th. Barclays set a $22.00 target price on Meritor and gave the company a “hold” rating in a report on Friday, October 20th. Royal Bank of Canada decreased their target price on Meritor from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, November 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 target price (up from $25.00) on shares of Meritor in a report on Tuesday, September 12th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.14.

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About Meritor

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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