ICM Asset Management Inc. WA bought a new position in shares of Meritor Inc (NYSE:MTOR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 160,850 shares of the auto parts company’s stock, valued at approximately $3,114,000. Meritor comprises about 2.2% of ICM Asset Management Inc. WA’s portfolio, making the stock its 12th largest holding. ICM Asset Management Inc. WA owned 0.19% of Meritor at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in Meritor by 4.1% in the 2nd quarter. BlackRock Inc. now owns 6,259,900 shares of the auto parts company’s stock valued at $128,766,000 after buying an additional 246,024 shares during the last quarter. LSV Asset Management grew its position in Meritor by 5.6% in the 2nd quarter. LSV Asset Management now owns 4,735,475 shares of the auto parts company’s stock valued at $97,408,000 after buying an additional 250,544 shares during the last quarter. Millennium Management LLC grew its position in Meritor by 38.3% in the 1st quarter. Millennium Management LLC now owns 2,119,759 shares of the auto parts company’s stock valued at $43,582,000 after buying an additional 587,065 shares during the last quarter. Morgan Stanley grew its position in Meritor by 4.0% in the 2nd quarter. Morgan Stanley now owns 2,030,221 shares of the auto parts company’s stock valued at $41,762,000 after buying an additional 77,915 shares during the last quarter. Finally, Royce & Associates LP grew its position in Meritor by 44.4% in the 2nd quarter. Royce & Associates LP now owns 1,796,009 shares of the auto parts company’s stock valued at $36,944,000 after buying an additional 551,936 shares during the last quarter. Institutional investors and hedge funds own 90.55% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Stifel Nicolaus set a $29.00 price objective on shares of Meritor and gave the company a “buy” rating in a research report on Wednesday, August 1st. ValuEngine lowered shares of Meritor from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Barclays reiterated a “hold” rating and issued a $22.00 price objective on shares of Meritor in a research report on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $37.00 target price on shares of Meritor in a research report on Wednesday, August 1st. Finally, TheStreet upgraded shares of Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Meritor has a consensus rating of “Hold” and an average target price of $29.14.
Shares of NYSE MTOR traded down $0.38 during trading on Thursday, hitting $17.35. 63,988 shares of the company were exchanged, compared to its average volume of 992,264. The firm has a market capitalization of $1.67 billion, a P/E ratio of 9.43 and a beta of 2.44. Meritor Inc has a 1 year low of $17.28 and a 1 year high of $29.54. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.70 and a current ratio of 1.15.
Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, August 1st. The auto parts company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.78 by $0.11. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.06 billion. Meritor had a net margin of 8.06% and a return on equity of 88.32%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts forecast that Meritor Inc will post 2.96 earnings per share for the current fiscal year.
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 & Industrial; and Aftermarket & Trailer.
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