California Public Employees Retirement System increased its stake in shares of Meritor Inc. (NYSE:MTOR) by 8.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,600 shares of the company’s stock after buying an additional 16,600 shares during the period. California Public Employees Retirement System owned about 0.23% of Meritor worth $1,545,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Anchor Bolt Capital LP raised its stake in Meritor by 33.5% in the first quarter. Anchor Bolt Capital LP now owns 5,166,894 shares of the company’s stock valued at $41,645,000 after buying an additional 1,297,532 shares in the last quarter. HBK Investments L P acquired a new stake in Meritor during the first quarter valued at approximately $136,000. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in Meritor during the second quarter valued at approximately $122,000. Fox Run Management L.L.C. acquired a new stake in Meritor during the second quarter valued at approximately $168,000. Finally, Norges Bank acquired a new stake in Meritor during the fourth quarter valued at approximately $8,444,000. 90.92% of the stock is owned by institutional investors.
Meritor Inc. (NYSE:MTOR) traded up 5.47% on Monday, hitting $11.56. 331,820 shares of the company traded hands. The stock’s 50-day moving average is $10.89 and its 200 day moving average is $8.99. Meritor Inc. has a 12 month low of $5.69 and a 12 month high of $11.97. The firm has a market capitalization of $1.00 billion, a P/E ratio of 14.03 and a beta of 2.53.
Meritor (NYSE:MTOR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share 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 net margin of 2.35% and a negative return on equity of 25.32%. Meritor’s revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Equities analysts forecast that Meritor Inc. will post $1.60 EPS for the current fiscal year.
Several research firms have recently commented on MTOR. 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. Citigroup Inc. boosted 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. Zacks Investment Research upgraded shares of Meritor from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Piper Jaffray Cos. lowered shares of Meritor from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $6.50 to $6.00 in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Meritor 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.
Want to see what other hedge funds are holding MTOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritor Inc. (NYSE:MTOR).
Receive News & Ratings for Meritor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor Inc. and related companies with MarketBeat.com's FREE daily email newsletter.