Granite Investment Partners LLC boosted its holdings in Spartan Motors Inc (NASDAQ:SPAR) by 87.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,896 shares of the company’s stock after purchasing an additional 54,624 shares during the quarter. Granite Investment Partners LLC owned about 0.33% of Spartan Motors worth $1,032,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in Spartan Motors by 54,830.8% in the first quarter. BNP Paribas Arbitrage SA now owns 7,141 shares of the company’s stock worth $63,000 after purchasing an additional 7,128 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Spartan Motors by 17.0% during the fourth quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock valued at $79,000 after acquiring an additional 1,593 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Spartan Motors by 374.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,765 shares of the company’s stock valued at $85,000 after acquiring an additional 9,283 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Spartan Motors during the fourth quarter valued at approximately $122,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Spartan Motors by 8.4% during the first quarter. The Manufacturers Life Insurance Company now owns 24,029 shares of the company’s stock valued at $213,000 after acquiring an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.
Several research firms have recently commented on SPAR. BidaskClub downgraded Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Roth Capital restated a “buy” rating on shares of Spartan Motors in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.00.
NASDAQ SPAR opened at $8.93 on Thursday. The company has a market cap of $305.08 million, a PE ratio of 20.07 and a beta of 1.39. Spartan Motors Inc has a 52 week low of $6.70 and a 52 week high of $16.10. The company has a quick ratio of 1.14, a current ratio of 1.69 and a debt-to-equity ratio of 0.20.
Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $234.00 million during the quarter, compared to the consensus estimate of $204.90 million. Spartan Motors had a return on equity of 8.21% and a net margin of 1.39%. The company’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities analysts anticipate that Spartan Motors Inc will post 0.61 earnings per share for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a dividend yield of 1.05%. Spartan Motors’s dividend payout ratio is 20.83%.
In other news, insider Daryl M. Adams sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $9.51, for a total transaction of $118,875.00. Following the completion of the sale, the insider now owns 677,175 shares in the company, valued at $6,439,934.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.22% of the company’s stock.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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