Heartland Advisors Inc. Lowers Stake in Spartan Motors Inc. (SPAR)
Heartland Advisors Inc. lowered its stake in Spartan Motors Inc. (NASDAQ:SPAR) by 20.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 600,000 shares of the company’s stock after selling 150,000 shares during the period. Heartland Advisors Inc. owned approximately 1.74% of Spartan Motors worth $5,748,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Spartan Motors during the second quarter valued at about $1,457,000. Smith Asset Management Group LP bought a new stake in shares of Spartan Motors during the second quarter valued at about $122,000. Bank of New York Mellon Corp increased its stake in shares of Spartan Motors by 38.0% in the second quarter. Bank of New York Mellon Corp now owns 221,986 shares of the company’s stock valued at $1,390,000 after buying an additional 61,081 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Spartan Motors during the second quarter valued at about $437,000. Finally, Suntrust Banks Inc. increased its stake in shares of Spartan Motors by 19.4% in the second quarter. Suntrust Banks Inc. now owns 40,613 shares of the company’s stock valued at $253,000 after buying an additional 6,585 shares in the last quarter. 67.59% of the stock is owned by institutional investors.
Spartan Motors Inc. (NASDAQ:SPAR) traded down 1.11% on Monday, reaching $8.90. 23,387 shares of the company were exchanged. Spartan Motors Inc. has a 12-month low of $2.61 and a 12-month high of $10.50. The company’s 50-day moving average price is $8.74 and its 200-day moving average price is $8.05. The stock’s market capitalization is $306.19 million.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $148.66 million for the quarter, compared to the consensus estimate of $147.30 million. Spartan Motors had a negative net margin of 0.30% and a positive return on equity of 3.85%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Spartan Motors Inc. will post $0.33 earnings per share for the current fiscal year.
The company also recently declared a semiannual dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be given a $0.05 dividend. The ex-dividend date is Thursday, November 10th. This represents a dividend yield of 1.28%. Spartan Motors’s dividend payout ratio (DPR) is currently -199.96%.
Separately, Zacks Investment Research raised shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, August 10th.
About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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