GAM Holding AG acquired a new stake in Meritor Inc (NYSE:MTOR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 61,837 shares of the auto parts company’s stock, valued at approximately $1,258,000. GAM Holding AG owned about 0.07% of Meritor at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Strs Ohio grew its holdings in Meritor by 146.2% in the fourth quarter. Strs Ohio now owns 3,200 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,900 shares during the last quarter. Quantamental Technologies LLC lifted its position in shares of Meritor by 84.1% in the first quarter. Quantamental Technologies LLC now owns 2,629 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,201 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Meritor in the first quarter valued at $60,000. Advisors Preferred LLC purchased a new position in Meritor during the first quarter worth about $76,000. Finally, New York State Teachers Retirement System acquired a new stake in Meritor during the first quarter worth about $98,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on MTOR shares. Barclays restated a “hold” rating and set a $21.00 price objective on shares of Meritor in a research note on Sunday, March 31st. Longbow Research increased their target price on Meritor to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Zacks Investment Research downgraded Meritor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Stifel Nicolaus set a $29.00 target price on Meritor and gave the company a “buy” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $25.63.
Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.16. Meritor had a net margin of 5.86% and a return on equity of 89.66%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.75 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Meritor Inc will post 3.54 EPS for the current fiscal year.
In other news, SVP Chris Villavarayan sold 21,723 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $23.21, for a total value of $504,190.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rodger L. Boehm purchased 2,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $21.00 per share, with a total value of $42,000.00. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.
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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