Schwab Charles Investment Management Inc. boosted its stake in Meritor, Inc. (NYSE:MTOR) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 552,453 shares of the auto parts company’s stock after buying an additional 34,028 shares during the period. Schwab Charles Investment Management Inc. owned 0.62% of Meritor worth $9,464,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in Meritor during the first quarter valued at $116,000. New York State Teachers Retirement System raised its position in Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after buying an additional 100 shares during the period. Bank of Montreal Can raised its position in 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 during the period. Laurion Capital Management LP bought a new position in Meritor during the first quarter valued at $238,000. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new position in Meritor during the first quarter valued at $365,000. Institutional investors and hedge funds own 92.60% of the company’s stock.
Meritor, Inc. (NYSE MTOR) traded down 0.22% on Friday, hitting $18.02. 1,346,769 shares of the stock were exchanged. The company has a market capitalization of $1.68 billion, a PE ratio of 2.92 and a beta of 2.22. Meritor, Inc. has a 1-year low of $8.23 and a 1-year high of $18.40. The company has a 50-day moving average price of $16.90 and a 200 day moving average price of $16.38.
Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 87.10%. The firm had revenue of $920 million for the quarter, compared to analyst estimates of $846.19 million. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts anticipate that Meritor, Inc. will post $1.64 EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on MTOR shares. Zacks Investment Research downgraded Meritor from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Royal Bank Of Canada started coverage on Meritor in a research report on Monday, May 15th. They set an “outperform” rating and a $22.00 target price on the stock. BidaskClub raised Meritor from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Barclays PLC lifted their target price on Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday. Four equities research 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.38.
In other Meritor news, Director William R. Newlin purchased 5,934 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was purchased at an average price of $16.84 per share, with a total value of $99,928.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.87% of the company’s stock.
About Meritor
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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