BlackRock Inc. boosted its stake in Meritor, Inc. (NYSE:MTOR) by 22,259.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,991,169 shares of the auto parts company’s stock after buying an additional 5,964,374 shares during the period. BlackRock Inc. owned 0.07% of Meritor worth $102,629,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Meritor by 2.5% in the fourth quarter. State Street Corp now owns 1,667,738 shares of the auto parts company’s stock valued at $20,712,000 after buying an additional 40,673 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Meritor during the fourth quarter valued at approximately $3,973,000. Norges Bank purchased a new position in shares of Meritor during the fourth quarter valued at approximately $4,809,000. Teachers Advisors LLC boosted its position in shares of Meritor by 5.5% in the fourth quarter. Teachers Advisors LLC now owns 142,909 shares of the auto parts company’s stock worth $1,775,000 after buying an additional 7,511 shares during the last quarter. Finally, Bank of Montreal Can boosted 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 worth $196,000 after buying an additional 289 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.
Meritor, Inc. (MTOR) opened at 17.21 on Tuesday. Meritor, Inc. has a 12-month low of $7.88 and a 12-month high of $18.40. The company has a 50 day moving average price of $16.87 and a 200-day moving average price of $16.35. The company has a market capitalization of $1.52 billion, a PE ratio of 2.82 and a beta of 2.21.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, May 3rd. The auto parts company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.01. Meritor had a negative return on equity of 49.82% and a net margin of 17.24%. The business had revenue of $806 million for the quarter, compared to the consensus estimate of $785.42 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. Meritor’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts anticipate that Meritor, Inc. will post $1.44 EPS for the current year.
A number of research analysts have issued reports on MTOR shares. Zacks Investment Research cut Meritor from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Royal Bank Of Canada started coverage on Meritor in a report on Monday, May 15th. They set an “outperform” rating and a $22.00 price objective for the company. ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Meritor from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $16.71.
In other Meritor news, Director William R. Newlin acquired 5,934 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average cost of $16.84 per share, for a total transaction of $99,928.56. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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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