Oxford Asset Management reduced its position in Meritor Inc (NYSE:MTOR) by 20.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,720 shares of the auto parts company’s stock after selling 52,906 shares during the period. Oxford Asset Management owned 0.23% of Meritor worth $3,541,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MTOR. First Republic Investment Management Inc. acquired a new stake in Meritor during the fourth quarter worth $137,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Meritor during the fourth quarter valued at approximately $184,000. Boothbay Fund Management LLC purchased a new position in shares of Meritor during the fourth quarter valued at approximately $195,000. Bank of Montreal Can raised its position in shares of Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock valued at $196,000 after buying an additional 289 shares in the last quarter. Finally, Wexford Capital LP purchased a new position in shares of Meritor during the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 90.74% of the company’s stock.
Shares of Meritor Inc (NYSE:MTOR) traded up 1.01% during midday trading on Friday, reaching $16.07. The company had a trading volume of 1,049,146 shares. The company has a market capitalization of $1.42 billion, a P/E ratio of 2.63 and a beta of 2.31. The company’s 50 day moving average price is $16.91 and its 200-day moving average price is $14.79. Meritor Inc has a 52 week low of $6.30 and a 52 week high of $18.29.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, May 3rd. The auto parts company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Meritor had a negative return on equity of 36.22% and a net margin of 17.48%. The company had revenue of $806 million for the quarter, compared to analysts’ expectations of $785.42 million. During the same quarter last year, the company earned $0.41 EPS. Meritor’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Meritor Inc will post $1.41 earnings per share for the current fiscal year.
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MTOR has been the topic of several research reports. KeyCorp upgraded Meritor from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Tuesday, February 21st. Barclays PLC raised their price target on Meritor from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, March 23rd. Zacks Investment Research upgraded Meritor from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Friday, January 27th. Stifel Nicolaus upgraded Meritor from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $17.00 in a research note on Thursday, January 26th. Finally, Royal Bank of Canada initiated coverage on Meritor in a research note on Monday. They set an “outperform” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Meritor presently has an average rating of “Hold” and an average price target of $15.00.
In related news, Director William R. Newlin purchased 5,934 shares of the business’s stock in a transaction on Monday, May 8th. The shares were bought at an average price of $16.84 per share, for a total transaction of $99,928.56. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.87% of the stock is owned by corporate 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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