Cipher Capital LP Trims Stake in Meritor, Inc. (MTOR)
Cipher Capital LP cut its stake in shares of Meritor, Inc. (NYSE:MTOR) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 226,628 shares of the auto parts company’s stock after selling 54,290 shares during the quarter. Cipher Capital LP owned approximately 0.26% of Meritor worth $5,894,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MTOR. UBS Asset Management Americas Inc. increased its holdings in Meritor by 28.7% during the first quarter. UBS Asset Management Americas Inc. now owns 48,502 shares of the auto parts company’s stock valued at $831,000 after buying an additional 10,807 shares during the period. Geode Capital Management LLC increased its holdings in Meritor by 6.0% during the first quarter. Geode Capital Management LLC now owns 678,036 shares of the auto parts company’s stock valued at $11,614,000 after buying an additional 38,551 shares during the period. New York State Teachers Retirement System increased its holdings in Meritor by 1.4% during 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 period. BlackRock Inc. increased its holdings in Meritor by 22,259.3% during the first quarter. BlackRock Inc. now owns 5,991,169 shares of the auto parts company’s stock valued at $102,629,000 after buying an additional 5,964,374 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in Meritor by 6.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 552,453 shares of the auto parts company’s stock valued at $9,464,000 after buying an additional 34,028 shares during the period. 93.76% of the stock is currently owned by institutional investors.
MTOR has been the subject of several recent analyst reports. KeyCorp restated a “buy” rating and issued a $23.00 target price on shares of Meritor in a research note on Friday, September 8th. Buckingham Research initiated coverage on shares of Meritor in a research note on Tuesday, September 5th. They issued a “buy” rating and a $25.00 target price for the company. J P Morgan Chase & Co raised their target price on shares of Meritor from $19.00 to $21.50 and gave the company a “neutral” rating in a research note on Tuesday, September 12th. Barclays PLC raised their target price on shares of Meritor from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $22.00 target price (up from $19.00) on shares of Meritor in a research note on Tuesday, September 12th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.75.
Meritor, Inc. (NYSE:MTOR) traded down $1.38 during trading hours on Friday, hitting $23.71. 3,926,900 shares of the stock traded hands, compared to its average volume of 1,181,132. Meritor, Inc. has a 1-year low of $11.74 and a 1-year high of $27.96. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of -19.50. The firm has a market capitalization of $2,070.00, a P/E ratio of 13.49 and a beta of 2.34.
Meritor (NYSE:MTOR) last posted its quarterly earnings data on Tuesday, November 14th. The auto parts company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.21. Meritor had a net margin of 9.68% and a negative return on equity of 144.07%. The business had revenue of $922.00 million during the quarter, compared to the consensus estimate of $836.39 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. research analysts forecast that Meritor, Inc. will post 2.33 earnings per share for the current fiscal year.
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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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