Highbridge Capital Management LLC Has $1.29 Million Position in Meritor Inc (MTOR)

Highbridge Capital Management LLC decreased its holdings in shares of Meritor Inc (NYSE:MTOR) by 30.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,468 shares of the auto parts company’s stock after selling 27,219 shares during the quarter. Highbridge Capital Management LLC’s holdings in Meritor were worth $1,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Millennium Management LLC lifted its holdings in Meritor by 38.3% during the 1st quarter. Millennium Management LLC now owns 2,119,759 shares of the auto parts company’s stock valued at $43,582,000 after purchasing an additional 587,065 shares during the last quarter. Verition Fund Management LLC lifted its holdings in Meritor by 74.6% during the 1st quarter. Verition Fund Management LLC now owns 66,767 shares of the auto parts company’s stock valued at $1,373,000 after purchasing an additional 28,527 shares during the last quarter. Point72 Asia Hong Kong Ltd lifted its holdings in Meritor by 299.3% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 14,534 shares of the auto parts company’s stock valued at $299,000 after purchasing an additional 10,894 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Meritor during the 1st quarter valued at $2,870,000. Finally, A.R.T. Advisors LLC lifted its holdings in Meritor by 102.4% during the 1st quarter. A.R.T. Advisors LLC now owns 167,400 shares of the auto parts company’s stock valued at $3,441,000 after purchasing an additional 84,700 shares during the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.

MTOR opened at $21.47 on Friday. Meritor Inc has a fifty-two week low of $15.45 and a fifty-two week high of $29.54. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.16 and a quick ratio of 0.72. The firm has a market cap of $1.91 billion, a PE ratio of 11.54 and a beta of 2.50.

Meritor (NYSE:MTOR) last posted its earnings results on Thursday, May 3rd. The auto parts company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. Meritor had a return on equity of 115.74% and a net margin of 8.08%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $974.09 million. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was up 32.3% on a year-over-year basis. sell-side analysts predict that Meritor Inc will post 2.81 EPS for the current year.

Several equities research analysts have issued reports on the company. Barclays cut their price target on Meritor from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, April 17th. Zacks Investment Research downgraded Meritor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 24th. Piper Jaffray Companies set a $35.00 price target on Meritor and gave the company a “buy” rating in a report on Tuesday, March 13th. ValuEngine downgraded Meritor from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Stifel Nicolaus set a $27.00 price target on Meritor and gave the company a “buy” rating in a report on Friday, May 4th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.41.

Meritor Company Profile

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 & Industrial; and Aftermarket & Trailer.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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