Nine Chapters Capital Management LLC acquired a new position in shares of Meritor, Inc. (NYSE:MTOR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,100 shares of the auto parts company’s stock, valued at approximately $419,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Rosenblum Silverman Sutton S F Inc. CA purchased a new stake in Meritor during the third quarter worth about $1,135,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Meritor during the third quarter worth about $16,311,000. APG Asset Management N.V. purchased a new stake in Meritor during the third quarter worth about $1,405,000. Meeder Asset Management Inc. boosted its holdings in Meritor by 123.3% during the third quarter. Meeder Asset Management Inc. now owns 8,352 shares of the auto parts company’s stock worth $218,000 after buying an additional 4,611 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Meritor by 241.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 56,994 shares of the auto parts company’s stock worth $1,483,000 after buying an additional 40,322 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on MTOR shares. Royal Bank Of Canada reissued a “buy” rating and set a $23.00 price objective on shares of Meritor in a report on Monday, September 4th. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, July 25th. Barclays PLC set a $22.00 price objective on shares of Meritor and gave the stock a “hold” rating in a report on Friday, October 20th. UBS AG reissued a “neutral” rating and set a $19.00 price objective (up previously from $18.00) on shares of Meritor in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $26.00 price objective (up previously from $25.00) on shares of Meritor in a report on Tuesday, September 12th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Meritor has an average rating of “Buy” and a consensus price target of $25.05.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The company had revenue of $920.00 million for the quarter, compared to analyst estimates of $846.19 million. During the same quarter last year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year.
In other news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total value of $80,612.16. Following the transaction, the senior vice president now owns 30,000 shares of the company’s stock, valued at $576,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.87% of the company’s stock.
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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