Alambic Investment Management L.P. lessened its holdings in Meritor Inc (NYSE:MTOR) by 62.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,918 shares of the auto parts company’s stock after selling 63,424 shares during the period. Alambic Investment Management L.P.’s holdings in Meritor were worth $753,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MTOR. Eqis Capital Management Inc. purchased a new position in Meritor during the second quarter worth $203,000. Stone Ridge Asset Management LLC purchased a new position in Meritor during the third quarter worth $198,000. Meeder Asset Management Inc. boosted its stake in Meritor by 559.6% during the third quarter. Meeder Asset Management Inc. now owns 11,049 shares of the auto parts company’s stock worth $212,000 after buying an additional 9,374 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Meritor during the second quarter worth $252,000. Finally, GAM Holding AG purchased a new position in Meritor during the second quarter worth $253,000. Institutional investors own 86.04% of the company’s stock.
Several research analysts have commented on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $37.00 price objective on shares of Meritor in a research note on Wednesday, August 1st. TheStreet raised shares of Meritor from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Barclays lifted their price objective on shares of Meritor from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 2nd. Stifel Nicolaus set a $29.00 price objective on shares of Meritor and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, ValuEngine lowered shares of Meritor from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.17.
Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, November 14th. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Meritor had a net margin of 2.80% and a return on equity of 92.31%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. Analysts predict that Meritor Inc will post 3.22 EPS for the current year.
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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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