Meritor Sees Unusually High Options Volume (MTOR)

Meritor Inc (NYSE:MTOR) was the target of some unusual options trading activity on Friday. Stock investors purchased 9,070 put options on the company. This is an increase of 1,682% compared to the average volume of 509 put options.

Meritor (NYSE MTOR) opened at $24.05 on Wednesday. The stock has a market cap of $2,140.00, a PE ratio of 6.61 and a beta of 2.29. Meritor has a one year low of $13.34 and a one year high of $27.96. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.10 and a quick ratio of 0.78.

Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. The company had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $836.39 million. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. Meritor’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. analysts expect that Meritor will post 2.43 earnings per share for the current year.

In other news, CEO Jeffrey A. Craig sold 67,005 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.63, for a total transaction of $1,650,333.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Chris Villavarayan sold 4,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.53, for a total transaction of $94,120.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,290 shares of company stock worth $3,549,231. Insiders own 2.32% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in Meritor by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after purchasing an additional 281 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Meritor by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock worth $1,065,000 after purchasing an additional 439 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Meritor by 3.5% in the 2nd quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock worth $259,000 after purchasing an additional 528 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Meritor by 8.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 596 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock valued at $141,000 after acquiring an additional 1,491 shares during the period. Institutional investors own 95.53% of the company’s stock.

MTOR has been the topic of a number of research reports. Barclays set a $22.00 target price on shares of Meritor and gave the company a “hold” rating in a report on Friday, October 20th. Royal Bank of Canada dropped their target price on shares of Meritor from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Piper Jaffray Companies upgraded shares of Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Friday, December 8th. Finally, Longbow Research cut shares of Meritor from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.14.

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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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