Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Meritor Inc (NYSE:MTOR) by 601.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,340 shares of the auto parts company’s stock after acquiring an additional 270,400 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.38% of Meritor worth $7,647,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of Meritor by 124.3% in the second quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock worth $35,000 after acquiring an additional 794 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Meritor in the second quarter worth $77,000. New York State Teachers Retirement System bought a new position in Meritor in the first quarter worth $98,000. Anderson Fisher LLC bought a new position in Meritor in the first quarter worth $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Meritor by 16.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock worth $115,000 after purchasing an additional 686 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
Several brokerages recently commented on MTOR. ValuEngine cut Meritor from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Buckingham Research reduced their target price on Meritor from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Citigroup reduced their target price on Meritor from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Finally, Zacks Investment Research raised Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $26.18.
In other Meritor news, SVP Boise April Miller sold 31,830 shares of Meritor stock in a transaction on Friday, August 16th. The stock was sold at an average price of $17.38, for a total transaction of $553,205.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.
Shares of MTOR stock opened at $20.06 on Thursday. The stock has a market cap of $1.57 billion, a P/E ratio of 6.62 and a beta of 2.32. Meritor Inc has a one year low of $15.01 and a one year high of $25.78. The stock has a fifty day moving average price of $19.26 and a 200 day moving average price of $21.55. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76.
Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.25. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Meritor had a return on equity of 83.77% and a net margin of 6.31%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. Equities research analysts anticipate that Meritor Inc will post 3.72 EPS for the current year.
Meritor Company Profile
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; and Aftermarket, Industrial and Trailer.
Further Reading: Limitations of the P/E Growth ratio
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