Victory Capital Management Inc. Sells 191,967 Shares of Meritor, Inc. (MTOR)
Victory Capital Management Inc. lowered its stake in shares of Meritor, Inc. (NYSE:MTOR) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,049,857 shares of the auto parts company’s stock after selling 191,967 shares during the period. Victory Capital Management Inc. owned 3.44% of Meritor worth $50,658,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in shares of Meritor during the first quarter valued at approximately $116,000. New York State Teachers Retirement System increased its position in shares of Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after buying an additional 100 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Meritor by 21.2% in the second quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock valued at $141,000 after buying an additional 1,491 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Meritor during the second quarter valued at approximately $186,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Meritor during the second quarter valued at approximately $188,000. 93.25% of the stock is currently owned by institutional investors.
Meritor, Inc. (NYSE MTOR) opened at 18.83 on Tuesday. Meritor, Inc. has a one year low of $9.84 and a one year high of $19.61. The firm has a market capitalization of $1.67 billion, a P/E ratio of 3.05 and a beta of 2.22. The firm’s 50-day moving average price is $18.16 and its 200 day moving average price is $16.88.
Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.20. The company had revenue of $920 million during the quarter, compared to analysts’ expectations of $846.19 million. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. On average, equities analysts anticipate that Meritor, Inc. will post $1.69 earnings per share for the current fiscal year.
MTOR has been the topic of several recent research reports. BidaskClub raised Meritor from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research raised Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 25th. UBS AG reaffirmed a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Meritor in a report on Thursday, August 3rd. ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Barclays PLC lifted their target price on Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $20.50.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the sale, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.87% of the stock is owned by insiders.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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