Peregrine Capital Management LLC increased its holdings in shares of Meritor Inc (NYSE:MTOR) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,358 shares of the auto parts company’s stock after purchasing an additional 4,629 shares during the quarter. Peregrine Capital Management LLC owned 0.44% of Meritor worth $6,363,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new position in Meritor in the 2nd quarter valued at about $449,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Meritor by 44.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,771 shares of the auto parts company’s stock valued at $174,000 after buying an additional 2,680 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Meritor by 94.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 34,626 shares of the auto parts company’s stock valued at $686,000 after buying an additional 16,824 shares during the period. First Trust Advisors LP boosted its stake in shares of Meritor by 12.0% in the 2nd quarter. First Trust Advisors LP now owns 74,252 shares of the auto parts company’s stock valued at $1,470,000 after buying an additional 7,984 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Meritor by 14.3% in the 2nd quarter. New York State Teachers Retirement System now owns 55,794 shares of the auto parts company’s stock valued at $1,105,000 after buying an additional 6,987 shares during the period. 95.56% of the stock is owned by institutional investors.
MTOR stock opened at $22.75 on Friday. The business has a 50 day moving average price of $20.55 and a 200 day moving average price of $19.97. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 6.17 and a beta of 2.45. Meritor Inc has a fifty-two week low of $10.91 and a fifty-two week high of $27.18. The company has a quick ratio of 1.08, a current ratio of 1.88 and a debt-to-equity ratio of 2.96.
Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, July 29th. The auto parts company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.01). Meritor had a net margin of 8.63% and a return on equity of 35.42%. The firm had revenue of $514.00 million during the quarter, compared to analysts’ expectations of $459.25 million. During the same quarter in the prior year, the firm posted $1.20 EPS. Meritor’s quarterly revenue was down 55.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meritor Inc will post 0.6 EPS for the current year.
Several brokerages have recently issued reports on MTOR. ValuEngine upgraded Meritor from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. TheStreet upgraded Meritor from a “c+” rating to a “b-” rating in a research note on Friday, July 17th. Longbow Research lifted their price objective on Meritor from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Zacks Investment Research cut Meritor from a “hold” rating to a “strong sell” rating and set a $24.00 price objective for the company. in a research note on Friday, July 24th. Finally, Barclays boosted their target price on Meritor from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $23.44.
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, Industrial and Trailer.
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