Meritor, Inc. (MTOR) Holdings Boosted by Arrowstreet Capital Limited Partnership
Arrowstreet Capital Limited Partnership boosted its stake in shares of Meritor, Inc. (NYSE:MTOR) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,367,571 shares of the auto parts company’s stock after purchasing an additional 203,941 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.54% of Meritor worth $22,715,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of MTOR. Vanguard Group Inc. raised its stake in shares of Meritor by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 11,602,537 shares of the auto parts company’s stock valued at $192,718,000 after acquiring an additional 447,647 shares during the period. BlackRock Inc. raised its stake in shares of Meritor by 2.4% in the 2nd quarter. BlackRock Inc. now owns 6,132,756 shares of the auto parts company’s stock valued at $101,865,000 after acquiring an additional 141,587 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Meritor by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,664,753 shares of the auto parts company’s stock valued at $60,871,000 after acquiring an additional 94,158 shares during the period. State Street Corp raised its stake in shares of Meritor by 4.2% in the 2nd quarter. State Street Corp now owns 1,873,790 shares of the auto parts company’s stock valued at $31,123,000 after acquiring an additional 74,896 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Meritor by 9.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,712,306 shares of the auto parts company’s stock valued at $28,442,000 after acquiring an additional 153,902 shares during the period. 93.23% of the stock is currently owned by institutional investors.
Meritor, Inc. (MTOR) remained flat at $26.24 during midday trading on Wednesday. 62,251 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $23.01 and its 200-day moving average price is $18.52. Meritor, Inc. has a 12 month low of $9.84 and a 12 month high of $27.03. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 4.26 and a beta of 2.30.
Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The business had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $846.19 million. During the same period in the previous year, the company earned $0.57 earnings per share. Meritor’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts forecast that Meritor, Inc. will post $1.70 earnings per share for the current fiscal year.
In other news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction on 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 in the company, valued at $576,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.87% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on MTOR shares. Stifel Nicolaus reissued a “buy” rating and issued a $25.00 target price on shares of Meritor in a research note on Tuesday, September 5th. Buckingham Research started coverage on shares of Meritor in a research note on Tuesday, September 5th. They issued a “buy” rating and a $25.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $23.00 target price on shares of Meritor in a research note on Monday, September 4th. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 25th. Finally, BidaskClub raised shares of Meritor from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.25.
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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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