Nationwide Fund Advisors reduced its stake in shares of Meritor Inc. (NYSE:MTOR) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 207,339 shares of the company’s stock after selling 9,108 shares during the period. Nationwide Fund Advisors owned approximately 0.24% of Meritor worth $1,493,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Springbok Capital Management LLC boosted its position 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 valued at $101,000 after buying an additional 1,000 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Meritor during the second quarter valued at about $122,000. HBK Investments L P bought a new position in shares of Meritor during the first quarter valued at about $136,000. Princeton Alpha Management LP bought a new position in shares of Meritor during the second quarter valued at about $127,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Meritor during the second quarter valued at about $168,000. 91.01% of the stock is owned by institutional investors.
Shares of Meritor Inc. (NYSE:MTOR) opened at 10.67 on Tuesday. Meritor Inc. has a 52 week low of $5.69 and a 52 week high of $11.70. The firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $9.14. The stock has a market cap of $925.76 million, a PE ratio of 12.95 and a beta of 2.53.
Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.14. The company earned $841 million during the quarter, compared to analyst estimates of $841.79 million. Meritor had a negative return on equity of 25.32% and a net margin of 2.35%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, analysts forecast that Meritor Inc. will post $1.60 earnings per share for the current fiscal year.
MTOR has been the subject of several recent analyst reports. Zacks Investment Research cut Meritor from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Citigroup Inc. boosted their target price on Meritor from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Longbow Research set a $14.00 target price on Meritor and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Finally, Piper Jaffray Cos. cut Meritor from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $6.50 to $6.00 in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Meritor has a consensus 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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