Meritor (NYSE:MTOR) Shares Down 8.9%

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Meritor, Inc. (NYSE:MTOR)’s stock price traded down 8.9% during mid-day trading on Tuesday . The stock traded as low as $24.20 and last traded at $24.67. 18,016 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 529,014 shares. The stock had previously closed at $27.09.

Separately, Zacks Investment Research lowered shares of Meritor from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Tuesday, April 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.40.

The company has a market capitalization of $1.85 billion, a PE ratio of 7.66 and a beta of 2.19. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.77 and a quick ratio of 1.17. The company has a 50-day moving average of $29.14 and a two-hundred day moving average of $28.33.

Meritor (NYSE:MTOR) last released its earnings results on Wednesday, February 3rd. The auto parts company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.21. Meritor had a net margin of 8.02% and a return on equity of 19.93%. The company had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $870.00 million. During the same quarter in the previous year, the company earned $0.64 EPS. Meritor’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts anticipate that Meritor, Inc. will post 1.77 EPS for the current year.

In related news, CEO Jeffrey A. Craig sold 199,570 shares of the business’s stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $31.84, for a total transaction of $6,354,308.80. Following the completion of the transaction, the chief executive officer now owns 38,540 shares in the company, valued at approximately $1,227,113.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ivor J. Evans sold 100,000 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $32.24, for a total value of $3,224,000.00. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its stake in shares of Meritor by 6,355.1% during the first quarter. Meeder Asset Management Inc. now owns 5,745 shares of the auto parts company’s stock valued at $168,000 after acquiring an additional 5,656 shares in the last quarter. Comerica Bank grew its holdings in Meritor by 22.4% during the 1st quarter. Comerica Bank now owns 201,991 shares of the auto parts company’s stock worth $5,787,000 after acquiring an additional 37,017 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Meritor by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,261 shares of the auto parts company’s stock valued at $743,000 after purchasing an additional 491 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Meritor in the 1st quarter valued at about $1,978,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Meritor by 162.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 19,190 shares of the auto parts company’s stock worth $565,000 after purchasing an additional 11,878 shares during the period. Institutional investors own 95.83% of the company’s stock.

About Meritor (NYSE:MTOR)

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 and Industrial.

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