State Street Corp Has $4.72 Million Position in Spartan Motors Inc (SPAR)

State Street Corp increased its position in Spartan Motors Inc (NASDAQ:SPAR) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 532,969 shares of the company’s stock after purchasing an additional 55,350 shares during the period. State Street Corp owned 1.52% of Spartan Motors worth $4,719,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Voya Investment Management LLC grew its position in shares of Spartan Motors by 18.9% during the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock worth $170,000 after purchasing an additional 3,049 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Spartan Motors by 12.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock valued at $205,000 after purchasing an additional 2,776 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Spartan Motors in the 2nd quarter valued at approximately $208,000. Royal Bank of Canada lifted its stake in shares of Spartan Motors by 213.5% in the 2nd quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after purchasing an additional 18,903 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Spartan Motors by 13.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 40,209 shares of the company’s stock valued at $356,000 after purchasing an additional 4,670 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors.

Spartan Motors Inc (NASDAQ:SPAR) opened at $15.55 on Friday. The firm has a market capitalization of $540.59, a PE ratio of 42.78, a P/E/G ratio of 2.54 and a beta of 1.21. Spartan Motors Inc has a fifty-two week low of $6.30 and a fifty-two week high of $17.20. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14.

Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The business had revenue of $189.22 million during the quarter, compared to analyst estimates of $185.30 million. During the same period in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. analysts forecast that Spartan Motors Inc will post 0.41 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a yield of 0.65%. Spartan Motors’s dividend payout ratio (DPR) is currently 24.39%.

SPAR has been the subject of a number of research analyst reports. Zacks Investment Research lowered Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. TheStreet lowered Spartan Motors from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. Craig Hallum set a $20.00 target price on Spartan Motors and gave the company a “buy” rating in a research report on Friday, October 13th. Roth Capital lifted their price target on Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Sidoti assumed coverage on Spartan Motors in a report on Friday, December 1st. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Spartan Motors presently has a consensus rating of “Buy” and an average price target of $17.00.

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Spartan Motors Profile

Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.

Institutional Ownership by Quarter for Spartan Motors (NASDAQ:SPAR)

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