California State Teachers Retirement System lowered its position in shares of Meritor Inc. (NYSE:MTOR) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,909 shares of the company’s stock after selling 11,569 shares during the period. California State Teachers Retirement System owned about 0.20% of Meritor worth $1,310,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Springbok Capital Management LLC raised its stake in shares of Meritor by 8.7% in the first quarter. Springbok Capital Management LLC now owns 12,500 shares of the company’s stock worth $101,000 after buying an additional 1,000 shares during the period. Quantitative Systematic Strategies LLC raised its stake in shares of Meritor by 39.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 26,396 shares of the company’s stock worth $185,000 after buying an additional 7,438 shares during the period. Parametrica Management Ltd bought a new stake in shares of Meritor during the first quarter worth $120,000. HBK Investments L P bought a new stake in shares of Meritor during the first quarter worth $136,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Meritor during the second quarter worth $168,000. 90.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Meritor Inc. (NYSE:MTOR) traded down 2.79% on Friday, hitting $10.80. 546,754 shares of the company’s stock were exchanged. The stock has a market cap of $937.04 million, a price-to-earnings ratio of 13.11 and a beta of 2.50. Meritor Inc. has a 12-month low of $5.69 and a 12-month high of $12.00. The company’s 50-day moving average price is $10.75 and its 200 day moving average price is $8.75.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.14. Meritor had a net margin of 2.35% and a negative return on equity of 25.32%. The business had revenue of $841 million for the quarter, compared to analyst estimates of $841.79 million. During the same period last year, the business earned $0.41 EPS. The company’s revenue was down 7.5% on a year-over-year basis. On average, equities analysts predict that Meritor Inc. will post $1.60 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Meritor from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Piper Jaffray Cos. lowered shares of Meritor from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $6.50 to $6.00 in a report on Tuesday, June 28th. Citigroup Inc. upped their price target on shares of Meritor from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Finally, Longbow Research set a $14.00 price target on shares of Meritor and gave the company a “buy” rating in a report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $9.20.
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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