Mackenzie Financial Corp boosted its stake in Meritor Inc (NYSE:MTOR) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 305,415 shares of the auto parts company’s stock after buying an additional 9,535 shares during the period. Mackenzie Financial Corp owned 0.34% of Meritor worth $7,165,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Rothschild Asset Management Inc. purchased a new stake in Meritor in the third quarter worth about $37,927,000. Hennessy Advisors Inc. lifted its holdings in shares of Meritor by 480.4% during the fourth quarter. Hennessy Advisors Inc. now owns 1,415,600 shares of the auto parts company’s stock valued at $33,210,000 after purchasing an additional 1,171,700 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Meritor during the third quarter valued at approximately $13,493,000. Prudential Financial Inc. lifted its holdings in shares of Meritor by 86.0% during the third quarter. Prudential Financial Inc. now owns 50,643 shares of the auto parts company’s stock valued at $1,317,000 after purchasing an additional 23,411 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Meritor during the third quarter valued at approximately $4,684,000. Institutional investors and hedge funds own 93.65% of the company’s stock.
In other Meritor news, SVP Joseph A. Plomin sold 15,826 shares of Meritor stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $25.64, for a total value of $405,778.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey A. Craig sold 50,000 shares of Meritor stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $29.12, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief executive officer now directly owns 427,310 shares of the company’s stock, valued at approximately $12,443,267.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 238,826 shares of company stock valued at $6,439,309. 2.32% of the stock is currently owned by insiders.
Shares of Meritor Inc (NYSE:MTOR) traded down $0.40 during midday trading on Wednesday, reaching $22.57. 1,510,016 shares of the company were exchanged, compared to its average volume of 1,483,444. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.69 and a current ratio of 1.17. Meritor Inc has a 52 week low of $14.97 and a 52 week high of $29.54. The stock has a market cap of $1,974.55, a price-to-earnings ratio of 7.56 and a beta of 2.48.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, January 31st. The auto parts company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.16. Meritor had a net margin of 7.69% and a return on equity of 208.74%. The business had revenue of $903.00 million during the quarter, compared to the consensus estimate of $836.28 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s revenue was up 29.2% on a year-over-year basis. equities research analysts predict that Meritor Inc will post 2.7 earnings per share for the current year.
MTOR has been the subject of several recent research reports. Royal Bank of Canada lowered their target price on shares of Meritor from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, November 16th. Zacks Investment Research lowered shares of Meritor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Piper Jaffray Companies upgraded shares of Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Friday, December 8th. ValuEngine upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Longbow Research upgraded shares of Meritor from a “neutral” rating to a “buy” rating in a report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.95.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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