Emerald Acquisition Ltd. acquired a new stake in shares of Meritor Inc. (NYSE:MTOR) during the second quarter, Holdings Channel reports. The institutional investor acquired 141,218 shares of the company’s stock, valued at approximately $1,012,000. Emerald Acquisition Ltd. owned approximately 0.15% of Meritor as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Meritor during the fourth quarter valued at approximately $8,444,000. JPMorgan Chase & Co. increased its position in Meritor by 23.2% in the first quarter. JPMorgan Chase & Co. now owns 1,870,140 shares of the company’s stock valued at $15,073,000 after buying an additional 352,679 shares in the last quarter. Royce & Associates LP increased its position in Meritor by 20.1% in the first quarter. Royce & Associates LP now owns 735,581 shares of the company’s stock valued at $5,929,000 after buying an additional 123,000 shares in the last quarter. UBS Group AG increased its position in Meritor by 1,006.6% in the first quarter. UBS Group AG now owns 121,209 shares of the company’s stock valued at $977,000 after buying an additional 110,256 shares in the last quarter. Finally, HBK Investments L P bought a new position in Meritor during the first quarter valued at approximately $136,000. Hedge funds and other institutional investors own 90.92% of the company’s stock.
Meritor Inc. (NYSE:MTOR) traded up 5.11% during midday trading on Monday, reaching $11.52. 350,115 shares of the company traded hands. The firm has a market capitalization of $999.51 million, a price-to-earnings ratio of 13.98 and a beta of 2.53. The firm has a 50-day moving average price of $10.89 and a 200-day moving average price of $8.99. Meritor Inc. has a one year low of $5.69 and a one year high of $11.97.
Meritor (NYSE:MTOR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. Meritor had a negative return on equity of 25.32% and a net margin of 2.35%. The firm earned $841 million during the quarter, compared to analyst estimates of $841.79 million. During the same period last year, the firm posted $0.41 EPS. The business’s revenue was down 7.5% compared to the same quarter last year. Equities analysts predict that Meritor Inc. will post $1.60 EPS for the current fiscal year.
Several equities analysts have commented on MTOR shares. Piper Jaffray Cos. downgraded shares of Meritor from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $6.50 to $6.00 in a report on Tuesday, June 28th. Zacks Investment Research downgraded shares of Meritor from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Citigroup Inc. boosted their target price on shares of Meritor from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Finally, Longbow Research set a $14.00 target price on shares of Meritor and gave the company a “buy” rating in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.20.
Meritor Company Profile
Meritor, Inc is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Company’s segments include commercial truck and industrial, and aftermarket and trailer.
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