Traders Buy Large Volume of Put Options on Meritor (MTOR)
Meritor Inc (NYSE:MTOR) was the target of some unusual options trading activity on Friday. Stock traders purchased 9,070 put options on the company. This is an increase of 1,682% compared to the average volume of 509 put options.
In related news, VP Paul Bialy sold 2,191 shares of Meritor stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $24.64, for a total value of $53,986.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy J. Heffron sold 18,696 shares of Meritor stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $23.46, for a total transaction of $438,608.16. Following the completion of the transaction, the senior vice president now owns 31,741 shares of the company’s stock, valued at approximately $744,643.86. The disclosure for this sale can be found here. Insiders sold a total of 146,290 shares of company stock worth $3,549,231 over the last three months. Insiders own 2.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTOR. Rothschild Asset Management Inc. acquired a new position in Meritor during the 3rd quarter worth approximately $37,927,000. Russell Investments Group Ltd. lifted its position in shares of Meritor by 340.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 815,739 shares of the auto parts company’s stock worth $21,218,000 after buying an additional 630,702 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Meritor during the 3rd quarter worth approximately $16,311,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Meritor during the 3rd quarter worth approximately $13,493,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Meritor by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,188,730 shares of the auto parts company’s stock worth $57,345,000 after buying an additional 476,424 shares during the last quarter. Institutional investors own 95.54% of the company’s stock.
Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.47 by $0.15. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. The company had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $836.39 million. During the same quarter in the previous year, the business posted $0.34 EPS. The firm’s revenue was up 26.6% on a year-over-year basis. equities analysts forecast that Meritor will post 2.43 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the stock. Longbow Research restated a “buy” rating and issued a $28.00 price objective (up previously from $22.00) on shares of Meritor in a report on Tuesday, September 19th. ValuEngine upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. KeyCorp restated a “buy” rating and issued a $37.00 price objective (up previously from $23.00) on shares of Meritor in a report on Tuesday, September 19th. Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, Barclays set a $22.00 price objective on shares of Meritor and gave the company a “hold” rating in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Meritor has an average rating of “Buy” and an average price target of $26.14.
Meritor Company Profile
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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