Bank of New York Mellon Corp cut its holdings in Meritor Inc (NYSE:MTOR) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,949 shares of the auto parts company’s stock after selling 51,430 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of Meritor worth $12,363,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. FMR LLC grew its position in Meritor by 23.4% during the 2nd quarter. FMR LLC now owns 613,046 shares of the auto parts company’s stock valued at $12,610,000 after purchasing an additional 116,346 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Meritor during the 2nd quarter valued at about $252,000. Cortina Asset Management LLC grew its position in Meritor by 101.8% during the 2nd quarter. Cortina Asset Management LLC now owns 277,956 shares of the auto parts company’s stock valued at $5,718,000 after purchasing an additional 140,209 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Meritor during the 2nd quarter valued at about $1,572,000. Finally, Schwab Charles Investment Management Inc. grew its position in Meritor by 15.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,038,845 shares of the auto parts company’s stock valued at $21,370,000 after purchasing an additional 141,962 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
MTOR opened at $16.01 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 2.30. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 5.28 and a beta of 2.48. Meritor Inc has a 52-week low of $15.01 and a 52-week high of $29.54.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, November 14th. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Meritor had a net margin of 2.80% and a return on equity of 92.31%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, analysts expect that Meritor Inc will post 3.22 EPS for the current year.
MTOR has been the topic of several recent analyst reports. TheStreet raised shares of Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. ValuEngine downgraded shares of Meritor from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Stifel Nicolaus restated a “buy” rating and set a $24.00 target price on shares of Meritor in a research note on Sunday, November 18th. Barclays restated a “hold” rating and set a $22.00 target price on shares of Meritor in a research note on Wednesday, October 17th. Finally, Piper Jaffray Companies set a $37.00 target price on shares of Meritor and gave the company a “buy” rating in a research note on Friday, September 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.17.
In other Meritor news, CEO Jeffrey A. Craig sold 242,358 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $16.07, for a total transaction of $3,894,693.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy J. Heffron sold 30,043 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $16.09, for a total transaction of $483,391.87. The disclosure for this sale can be found here. Insiders have sold a total of 333,133 shares of company stock worth $5,355,182 in the last 90 days. Company insiders own 2.32% of the company’s stock.
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Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket & Trailer.
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